BAFL eyes 84.51% stake in Samba Bank from Saudi National Bank

MG News | April 09, 2024 at 02:12 PM GMT+05:00

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April 09, 2024 (MLN): Bank Alfalah Limited (PSX: BAFL) has publicly announced its intention to acquire up to 84.51% of the shares of Samba Bank Limited (PSX: SBL), currently held by Saudi National Bank, bank's filing on PSX revealed today.

As per the details, Arif Habib Limited will act as a manager of this offer.

This 84.51% shareholding by Saudi National Bank represents its entire stake in Samba Pakistan.

To recall, on March 29, SBL agreed to evaluate the non-binding offer and invite Bank Alfalah Limited to conduct diligence on Samba Pakistan.

Any decision relating to the Potential Transaction shall be subject to internal and regulatory approvals, and execution of definitive agreements.

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