Bahrain’s GFH Financial withdraws from 3 real estate funds

13/11/2017 Argaam

Bahrain-based investment firm GFH Financial on Monday said it has withdrawn from three portfolios worth $180 million, including a real estate portfolio in Bahrain valued at $60 million, and two real estate funds in the US with a value of $120 million.

 

The Dubai-listed firm has also signed a memorandum of understanding with an international strategic partner to participate in a main stake reaching 70 percent in the education portfolio worth $150 million.

 

The deal is expected to be finalized by the end of this year, it said in a bourse statement.

 

The investment firm is also studying a plan to acquire a financial institution in the GCC region, before the end of 2017. The deal, however, remains subject to reaching an agreement on the transaction’s price and obtaining regulatory approvals. 

 

“This transaction will enable GFH to be a major shareholder of the company with an ownership over 50 percent,” the statement said.

 

GFH said it is currently focuses on investments in the education sector. 

 

Meanwhile, it has signed an agreement with Rixos Hospitality to manage three of its assets in Bahrain. The company is also in negotiations with companies to assign a market maker for GFH in Dubai, the statement added.

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