Cairo - Decypha: The following is a summary of the mergers and acquisition activity in the MENA region, during the week of 25th of May 2017 to the 1st of June 2017.
Saudi British Bank
Saudi British Bank (SABB) and Alawwal Bank have agreed to begin merger discussions, accordingly, SABB has appointed Goldman Sachs to advise on the merger, while Alawwal Bank has chosen JPMorgan to advise from its side.
Securities Group
Securities Group has sold its 50.9% stake in Al Themar International Holding. Which amount to 45.63 million shares.
DP World
UAE’s DP World is in acquisition talks with Summa Group for the latter’s stake in Russian transport operator Fesco.
Kuwait Finance House
It has been announced through people involved in the matter that Kuwait Finance House (KFH) is currently in negotiations to acquire Ahli United Bank (AUB); however, the latter has announced that it did not issue any official announcement regarding the sale. If true, the deal will create one of the largest Islamic banks in the region with assets estimated at $85 billion.
Danah Al Safat Foodstuff
Kuwait-based Danah Al Safat Foodstuff has sold its entire stake in Lebanon-based F&B Venture Holding. The company owned 100% of the latter, and the deal is reportedly worth $85 million.
By Decypha Editorial Team
