Monday 22, October 2018 by Kudakwashe

National Bank of Bahrain plans to acquire a stake in BisB

 

The lender has provided Bahrain Islamic Bank (BisB) with a non-binding notice of the potential interest.

The National Bank of Bahrain (NBB) has announced that it is considering making a potential voluntary offer for the issued shares of Bahrain Islamic Bank (BisB).

In a bourse filing, the bank stated that the potential voluntary offer is subject to satisfactory conclusion of its diligence investigations, internal pricing assessment and approval from the board and shareholders.

In a separate statement, BisB stated that it has received a non-binding notification from NBB considering a potential voluntary acquisition for the offered shares.

The duo said that no formal documents have been signed and no material terms agreed.

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