Kuwait Finance House shareholders approve acquisition of Bahrain’s Ahli United Bank
The general assembly of shareholders of Kuwait Finance House on Monday (Jan 20) approved the acquisition of Bahrain’s Ahli United Bank.
KFH said in a bourse filing that the ordinary general assembly approved the bank’s Sharia Supervisory Board’s report on the acquisition of AUB and to convert it to become Shariah-compliant.
The Kuwaiti bank said the 100% acquisition of AUB’s capital shares will be by way of a share swap at an exchange ratio of 2.325581 shares of the Bahraini bank in exchange for one KFH share.
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