Logo of the National Bank of Saudi Arabia
Bank Alfalah Pakistan said today that it has submitted a non-binding offer to…To the National Bank of Saudi Arabia To acquire its entire stake in Samba Bank of Pakistan.
Bank Alfalah explained in a filing on the Pakistan Stock Exchange that the completion of the transaction depends on the completion of the due diligence process and obtaining all applicable legal procedures and regulatory approvals, including compliance with the Securities Law.
Bank Al Falah indicated that it had received confirmation from the National Bank regarding its acceptance of the offer and reviewing its details and evaluation, adding that it is currently seeking approval from the Central Bank of Pakistan to begin the due diligence process.
According to the data available on numbersThe National Bank of Saudi Arabia owns 84.51% of the shares of Samba Bank, which is listed on the Pakistan Stock Exchange.
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