KFH, AUB to reveal exchange rate for merger tomorrow: report

27/08/2018 Argaam

 

Kuwait Finance House (KFH) and Bahrain’s Ahli United Bank (AUB) will reveal tomorrow the exchange rate of their merger through share-swap, Al Arabiya website reported, citing sources familiar with the matter.

 

The merger’s procedures are going well and the rate will likely be fair to both parties, they said.

 

HSBC and Credit Suisse were hired to complete studies to assist KFH and AUB in arriving at a fair share exchange rate, according to previously memorandum of understanding (MoU) previously signed by the two lenders, Argaam previously reported.

 

The next step would be the initiation of due diligence and other studies and procedures.

 

KFH and AUB’s merger could lead to the creation of a new Islamic lender worth $90 billion in combined assets.

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