Mubasher: Boubyan Bank has reached an agreement with Bank of London and The Middle East Holdings (BLME Holdings) regarding the conditions of its recommended all-cash offer to fully acquire BLME Holdings’ entire issued and to be issued ordinary share capital at a value of $158 million.
The acquisition will not include “the BLME Holdings’ shares already owned by Boubyan Bank and its subsidiary (representing 27.91% of BLME’s issued share capital) and treasury shares,” according to a bourse statement on Sunday.
The offer’s terms and conditions were announced on 5 December on the London Stock Exchange (LSE) and Nasdaq Dubai.
Boubyan Bank further noted that the financial impact cannot be determined in the present time.
