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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Kuwait’s Boubyan Bank backs $2.1 bln NBK offer

Posted on 21 June 2012

National Bank of Kuwait’s planned takeover of Kuwait’s Boubyan Bank moved a step closer on Wednesday, when the Islamic bank’s board gave NBK its backing, leaving a disputed stake held by another bank as the main remaining obstacle to the $2.1 billion deal.
The Boubyan board described NBK’s offer for the 52.7 percent stake it does not already own as “fair and suitable”. However, NBK must still resolve the issue of a 19.2 percent stake held by Commercial Bank of Kuwait………………………………………..Full Article: Source

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