Kuwait’s finance minister has tasked the country’s sovereign wealth fund study the feasibility of Kuwait Finance House taking over Bahrain’s Ahli United Bank, the state-run KUNA news agency has reported.

Rafael Nadal marries partner of 14 years, Xisca Perello
Rafael Nadal married his childhood sweetheart of 14 years, Xisca Perello, at a castle in Mallorca on Saturday. Nadal,…
24 | the publication reaches you by | Kuwait OnlineThe decision is a result of the impact of the coronavirus pandemic and the possibility of a global recession in its aftermath.
Earlier in April, Kuwait Finance House said that it would postpone the acquisition of Ahli United as a result of Covid-19.
When first announced in September 2019, the deal was valued at $8.8 billion.
The swap ratio is fair and the merger “will create substantial cost synergies in Bahrain and Kuwait,” Jaap Meijer, the Dubai-based head of research at Arqaam Capital, said by email at the time.

Boursa Kuwait announces net profit of KD 5.63 million for the period ended 30 June 2020
Against the backdrop of the unprecedented conditions brought on by the COVID-19 pandemic, Boursa Kuwait saw a net profit…
18 | the publication reaches you by | Kuwait OnlineKuwait Today Business Subscription
Category: #Banking, #Business | 2020/05/03 latest update at 10:00 AM
Source : | Photocredit :