Mubasher: Kuwait Finance House (KFH) has submitted the document for its acquisition offer for 100% of Ahli United Bank (AUB) capital shares.
The step comes in line with the requirements of the regulatory authorities in Kuwait and Bahrain, according to a stock exchange filing on Sunday.
The Kuwaiti bank will provide further details in a timely manner.
In February, KFH submitted a letter of intent to AUB concerning the related deal. It further noted that it will change the name of AUB to Kuwait Finance House – Bahrain (KFH Bahrain) following the merger and will convert AUB’s subsidiary in Kuwait, Ahli United Bank - Kuwait (AUB Kuwait), to a digital bank as previously requested by the Central Bank of Kuwait (CBK).
