Al Baraka Group sells 83.1% stake in Itqan Capital to Zamil Real Estate

27/12/2022 Argaam

Bahrain-listed Al Baraka Group (ABG) announced the sale of an 83.07% stake in Itqan Capital to a Saudi private investor, according to Alayam newspaper.  

 

The deal was approved by the Capital Market Authority (CMA), General Authority of Competition (GAC) and Central Bank of Bahrain (CBB).

 

ABG also exited its subsidiary, Bank Al-Tamweel Wa Al-Inma in Morocco (BTI), selling its 43.65% stake in the bank. The sale deal is subject to the approvals of CBB and regulatory authorities in Morocco.  

 

Last August, GAC announced approving the economic concentration between Itqan Capital and Zamil Real Estate Co., a subsidiary of Zamil Group Holding Co., which entails Zamil's acquisition of the former, Argaam reported.  

 

For More Mergers and Acquisitions

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