Kuwait-Listed GFH Bank Offers To Increase Stake in Seef Properties

GFH Bank, formerly GFH Financial Group, has proposed to acquire an additional stake in Seef Properties, a Bahrain-based real estate development and commercial centres management firm.

A current shareholder of Seef with a nearly 30% stake, GFH said on Tuesday that it has approached the board of the property firm with a proposal for a “voluntary takeover” for some of the issued shares.

GFH did not specify how many shares it is looking to acquire.

In May last year, GFH increased its ownership in Seef to 27.98% after acquiring 15.63% of its shares.

The latest proposal remains subject to regulatory, board and shareholder approvals.