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Tuesday, 14 November 2017

Qatar First Bank sells stake in Amanat Holdings as Qatar-UAE ties unwind

Qatar First Bank sells stake in Amanat Holdings as Qatar-UAE ties unwind:

"Qatar First Bank (QFB) said on Tuesday that one of its units had sold its stake in United Arab Emirates healthcare and education investment firm Amanat Holdings, the latest sign of an unwinding of business ties between Qatar and the UAE. The stake was sold by QFB’s subsidiary Astro AD Cayman Ltd for 150 million UAE dirhams ($40.8 million). QFB did not disclose the size of the stake or the buyer, but said the deal value did not exceed 10 percent of the bank’s total assets. Astro AD Cayman was previously listed as owning 5 percent of Amanat, according to Thomson Reuters data."



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