Ahli United Bank, Bahrain's largest listed lender, has sold most of its 33 percent stake in Qatar's Ahli Bank to sovereign fund Qatar Foundation.
The sale, involving all but 1,000 of Ahli United's 37.38 million shares, still requires the approval of Ahli Bank shareholders, an Ahli Bank filing to the Qatar bourse said on Thursday.
No price was given but the stake would have been worth 1.93 billion riyals ($530.2 million) at Wednesday's 51.70 riyals closing price.
UPDATE 1-Bahrain lender sells Ahli Bank stake to Qatar Foundation | Reuters
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