GFH raises Saf Properties stake to 50.07%
Gulf Finance House (GFH) Bank has increased its indirect stake in Al Seef Real Estate Company to 50.07% by purchasing an additional 20.67% of the company's capital. This followed the approval of the Extraordinary General Assembly, which also waived the mandatory takeover bid. The deal includes Seef Equity Growth Investment, a subsidiary of the bank, acquiring approximately 95.09 million shares of Al Seef Real Estate, bringing its total ownership to around 230.33 million shares, representing 50.07% of the company. The bank will continue to disclose details and the expected financial impact of the transaction at a later time.
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