VOL. XLII

No. 10

8-March-1999

KUWAIT

UBK To Buy $30Mn Al-Ahli Commercial Bank Shares

The United Bank of Kuwait (UBK) announced on 2 March that itplans to buy 30 million shares in al-Ahli Commercial Bank (ACB) in Bahrain. Theagreement, which was signed on 2 March, represents 22.7% of ACB痴 capital andthe shares will be purchased from the Bahrain Pension Fund Commission. In astatement, UBK said that "a meeting has been held between therepresentatives of the Board of Directors of both banks in which...