Bank Alfalah offers to acquire SNB's stake in Samba Bank

MG News | March 29, 2024 at 09:16 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

March 29, 2024 (MLN): Saudi National Bank (SNB), as the majority shareholder of Samba Bank Limited (PSX: SBL), has received a nonbinding offer from Bank Alfalah Limited relating to the proposed divestment of SNB's 100% stake in SBL Pakistan, representing approximately 84.51 % shares in Samba Pakistan, the company's filing on PSX revealed today.

SNB has agreed to evaluate the non-binding offer and will invite Bank Alfalah Limited to conduct diligence on Samba Pakistan.

This is subject to compliance with requirements under applicable law, including execution of a non-disclosure agreement, issuance of public announcement of intention by Bank Alfalah Limited under the Securities Act, 2015 and approval from the State Bank of Pakistan.

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

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,051.96 66.00M	0.10% 167.37
ALLSHR	103,409.15 358.16M	0.11% 111.92
KSE30	50,846.06 35.30M	-0.07% -36.94
KMI30	243,475.18 32.14M	0.14% 335.93
KMIALLSHR	67,033.79 186.99M	0.08% 54.57
BKTi	47,546.36 9.73M	-0.20% -95.75
OGTi	34,846.26 2.68M	-0.83% -290.24

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,755.00	82,195.00 80,410.00	425.00 0.52%
BRENT CRUDE	101.68	104.90 101.21	-2.19 -2.11%
RICHARDS BAY COAL MONTHLY	130.00	0.00 0.00	6.10 4.92%
ROTTERDAM COAL MONTHLY	138.50	0.00 0.00	1.45 1.06%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	93.94	97.22 93.58	-2.14 -2.23%
SUGAR #11 WORLD	18.28	0.00 0.00	0.04 0.22%