Ahli United Bank and KFH say merger talks 'still ongoing' - The National

Ahli United Bank and KFH say merger talks 'still ongoing' - The National:

Ahli United Bank, the Bahraini lender, and Kuwait Finance House are still in discussions for a potential merger, which would create a new Islamic entity with $92 billion (Dh337.6bn) in combined assets.

The two parties signed a preliminary and non-disclosure agreement on July 22 to appoint banks to undertake valuations required to explore the possibility of a tie-up.

“With reference to our earlier disclosures … please note that consultations are still under way regarding the valuation results of the studies prepared by HSBC and Credit Suisse to recommend and determine a fair share exchange ratio,” Ahli United said in a statement on Sunday to Boursa Kuwait, where its shares are traded.