United Gulf Bank B.S.C. (BAX:UGB) and Burgan Bank S.A.K.P. made an offer to acquire an 37.05% stake in Fimbank P.l.c. (MTSE:FIM) from Massaleh Investments K.S.C.C. and others on November 22, 2012. The deal is subject to satisfaction of a number of conditions including that all necessary regulatory and corporate approvals are obtained, including in Malta, Bahrain, and Kuwait. The Board of Directors of Fimbank has resolved to recommend that certain issues relating to the Offer be presented to an Extraordinary General Meeting of the shareholders of the Bank for their consideration.878705519

As on May 30, 2013, a share purchase agreement has been signed for the deal as per which United Gulf Bank B.S.C. (BAX:UGB) will acquire 17.95 million shares. Imtiaz Shah and Blake Harley of Hogan Lovells acted as legal advisors for United Gulf Bank. Fenech & Fenech Advocates acted as legal advisor to Burgan Bank.

United Gulf Bank B.S.C. (BAX:UGB) and Burgan Bank S.A.K.P. completed the acquisition of an 37.05% stake in Fimbank P.l.c. (MTSE:FIM) from Massaleh Investments K.S.C.C. and others on June 20, 2013.