No New Updates on KFH-Ahli United Acquisition says KFH

Kuwait Finance House (KFH) stated that there were no further updates on its acquisition of Bahrain’s Ahli United Bank (AUB). This statement came about following reports that the Ministry of Finance of Kuwait had requested a feasibility study into the viability of merger amidst the COVID-19 pandemic, following KFH’s decision to delay the deal.

In a statement to Boursa Kuwait, KFH stated that in 2019 the management and general assemblies of both banks had previously approved the acquisition’s due diligence reports and feasibility studies, thereby giving the acquisition the green light. Local media reported KFH and AUB had agreed on a share-swap ratio to create an institution with a combined USD 96.7 bill...