SAIB denies M&A talks

Logo of The Saudi Investment Bank (SAIB) 

The Saudi Investment Bank (SAIB) denied entering into any talks with any party regarding acquisitions or mergers (M&As), in response to recent reports, according to a statement to Tadawul.

SAIB explained that its disclosure aligns with article (78), subsection (d), regarding the rules on the offer of securities and continuing obligations issued by the Capital Market Authority (CMA).

For more news and details on M&As

Bloomberg, citing well-informed sources, earlier reported that Kuwait Finance House (KFH) was studying the acquisition of a large stake in SAIB, data compiled with Argaam showed.

Meanwhile, KFH later indicated that it was thoroughly studying the potential expansion opportunities in Saudi Arabia, adding that the move aligned with KFH’s strategy of investing in other regional banks, including Saudi Arabia.

KFH is committed to fulfilling all the relevant requirements of the regulatory bodies, especially the Central Bank of Kuwait (CBK).