Due diligence on KFH-AUB merger may last a few months: official

19/03/2019 Argaam

 

The due diligence process on Kuwait Finance House’s (KFH) bid to buy Bahrain’s Ahli United Bank (AUB) may take two to three months, CNBC Arabia has reported, citing KFH Chairman Hamad Abdulmohsen al-Marzouq.

 

“The final share-swap exchange ratio will be determined later,” al-Marzouq added.

 

The new entity will be the largest Islamic bank both in the region and globally, with assets reaching over $94 billion and shareholders’’ equity of $10 billion, Argaam previously reported.

 

According to data compiled by Argaam, the board of directors of both KFH and Ahli United Bank initially approved the fair share-swap exchange ratio of 2.32 shares.

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