Burgan Sells Stake In UBK
Another Kuwaiti bank has sold its position in the London-based consortium bank, UnitedBank of Kuwait (UBK). Following Bank of Kuwait and the Middle East's exit, Burgan Bank hasdisposed of its 7.06% position to Arab Financial Consultants for 13.85mn ($22.57mn). MEESunderstands that these shares are in the process of being sold on to a group of existingUBK shareholders - the Public Institution for Social Security, Gulf Bank and Gulf...
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