AUB and KFH announced that they signed a MoU for a potential merger in July this year.
Thursday 27, September 2018 BY KUDAKWASHE MUZORIWA
Bahrain’s AUB announced that it has received two valuation reports prepared by HSBC and Credit Suisse to determine a fair share exchange ratio in pursuit of a possible merger with Kuwait Financial House (KFH).
In a bourse filing, AUB stated that the reports will be evaluated and submitted to the Board of Director for necessary consideration and decision.
If the tie-up materialises, it would join a number of several recent tie-ups to create bigger and stronger lenders in the MENA region, creating a merger with total assets amounting to $90.57 billion, making it the sixth largest bank in the Gulf.