Kuwait Projects Company Sukuk Ltd Burgan Bank obtains CBK approval to acquire UGB
2024年12月19日 - 7:43PM
RNS Regulatory News
RNS Number : 7814Q
Kuwait Projects Company Sukuk Ltd
19 December 2024
Kuwait Projects Company Sukuk
Limited
Supplementary Disclosure regarding Burgan Bank
obtaining final CBK approval to acquire 100% stake in
UGB
Kuwait Projects Company (Holding) K.S.C.P. (KIPCO),
in its capacity as the Obligor of Kuwait Projects Company Sukuk
Limited, announced that Burgan Bank (a subsidiary of KIPCO Group)
has obtained final approval from the Central Bank of Kuwait (CBK)
to acquire a 100% stake in United Gulf Bank B.S.C.C. (UGB), a Bank
that operates in the Kingdom of Bahrain under a Wholesale Banking
License.
The implementation of this transaction remains
subject to closing procedures, which are expected to be completed
during first quarter of 2025.
For further information, please contact:
Investors, Press and
Media:
Eman Al-Awadhi
49th Floor
KIPCO Tower, Khaled Bin Al-Waleed St, Sharq
P.O. Box 23982
Safat 13100
Kuwait
Tel: +965 2294 3416, Email:
eman.alawadhi@kipco.com
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Kuw.pro.suk 29 (LSE:FL49)
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