KFH halts acquisition talks with Dar

Kuwait Finance House (KFH) has halted talks to acquire Investment Dar's 40 per cent stake in Bahrain Islamic Bank, the lender said yesterday.

"We had an earlier study (about acquiring Dar's stake) from a long time, but it stopped. And this option is not part of KFH-Bahrain's plans these days," Abdul Hakeem Al Khayyat, the Chief Executive of KFH's Bahrain unit, said in a statement.

Investment Dar said in March that it may sell some assets to meet its obligations as it seeks to restructure its debt.