Gulf Bank Acquires Shares In UBK
Kuwait-based Gulf Bank announced on 16 June that it had signed anagreement to acquire Bank of Kuwait and the Middle East's (BKME) share in London-basedUnited Bank of Kuwait (UBK). The 7.06% stake increases Gulf Bank's share in UBK to 17.8%.In a statement, Gulf Bank said that its "decision to purchase this additional shareis in line with its strategy of gradually increasing its UBK share of 10.7%, to ultimatelyreach a...
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