BAFL's Bangladesh division receives acquisition proposal from Sri Lanka's HNB

MG News | August 26, 2024 at 03:03 PM GMT+05:00

0:00

August 26, 2024 (MLN): In connection with the proposed sale of Bank Alfalah Limited (PSX: BAFL), Bangladesh operations, the bank has received a non-binding offer from Hatton National Bank (HNB) of Sri Lanka to acquire the bank's Bangladesh operations.

This non-binding offer is in addition to the non-binding offer already received from Bank Asia Ltd. (Bangladesh).

The Board of Directors of the Bank has accorded its in-principle approval/acceptance of the nonbinding offer received from HNB of Sri Lanka to acquire the Bank's Bangladesh operations/assets and liabilities, subject to compliance with all applicable laws/regulations and obtaining of necessary/ regulatory approvals.

"We will now seek approvals from the central banks of Pakistan and Bangladesh for HNB to commence due diligence on Bank Alfalah, Bangladesh Operations," BAFL informed further in its latest filing on PSX today.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	188,202.86 341.59M	-0.20% -384.80
ALLSHR	112,423.22 745.46M	-0.07% -79.96
KSE30	57,956.48 141.89M	-0.12% -70.41
KMI30	267,375.33 135.18M	-0.39% -1043.48
KMIALLSHR	72,363.20 391.84M	-0.20% -146.78
BKTi	53,485.97 53.11M	0.26% 139.85
OGTi	38,916.61 17.01M	0.72% 278.13

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	88,430.00	88,985.00 87,470.00	845.00 0.96%
BRENT CRUDE	66.69	66.78 65.00	1.10 1.68%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.65 -2.96%
ROTTERDAM COAL MONTHLY	99.00	0.00 0.00	0.30 0.30%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	61.73	61.86 60.14	1.10 1.81%
SUGAR #11 WORLD	14.98	14.98 14.74	0.19 1.28%