08.01.2013 - Islamic Bank of Britain takeover moves a step closer
The possible takeover of Birmingham-based Islamic Bank of Britain has moved a step further with the board confirming it is in direct negotiations with its would-be purchaser. The bank said it was now holding talks with Masraf Al Rayan (MAR) regarding a possible offer for the whole of the issued share capital of IBB. IBB said before Christmas that while it had not received a direct approach from MAR, its main shareholder Qatar International Islamic Bank (QIIB) was progressing talks with MAR regarding the sale of its IBB shares, which represent 88.41% of the Birmingham bank’s issued share capital of IBB...............................................Full Article: Source
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