KARACHI: Bank Alfalah Limited announced on Tuesday its plans to acquire up to 84.51 percent of Samba Bank Limited, a stake currently held by Saudi National Bank (SNB), according to a notice sent to the Pakistan Stock Exchange. “We would like to inform that M/s Arif Habib Limited, manager to the offer, has submitted the public announcement of intention to acquire up to 84.51 percent shares of the target company, held by Saudi National Bank, on behalf of the acquirer,” read Bank Alflah’s notice. "The public announcement of intention to acquire voting shares/control of Samba Bank is subject to obtaining the requisite regulatory approvals. This may be withdrawn, if the requisite approvals are not granted by the concerned regulatory authorities."
On March 29, Bank Alfalah made a non-binding indicative offer to SNB for its shares in Samba Bank, which SNB has indicated it is willing to consider.
China's President Xi Jinping applauds during the opening ceremony of the Forum on China-Africa Cooperation in...
This photograph shows the logo of US multinational technology conglomerate Meta, taken on May 22, 2022. —...
This is a representational image of a person holding gold chains. — AFP/FileKARACHI: Gold prices decreased by...
An employee working at a textile factory in Pakistan's port city of Karachi, on April 7, 2011. — AFPLAHORE: There is...
People shop at a crowded market ahead of Diwali, the Hindu festival of lights, in the old quarters of Delhi, India on...
Roblox Corp Chief Executive Officer and Co-Founder Dave Baszucki seen in this image. — X/@DavidBaszucki/FileRoblox...