Thursday 27, September 2018 by Kudakwashe

AUB, KFH to access valuation reports for a potential merger

 

HSBC and Credit Suisse were selected to undertake the necessary valuations studies to assist Ahli United Bank (AUB) and Kuwait Financial House (KFH) to arrive at a fair share exchange ratio.

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.

 AUB and KFH announced that they signed a MoU for a potential merger in July this year.

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.

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