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GFH Financial, SHUAA Capital postpone M&A talks


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GFH Financial, SHUAA Capital postpone M&A talks

Bahrain-based GFH Financial Group BSC postponed discussions with SHUAA Capital PSC regarding the potential acquisition of the Dubai bank, as the two parties have not yet agreed on the terms for the deal nor received initial regulatory approval.

GFH said its strategy to acquire financial institutions is still on track, adding: "[W]e will continue to seek strategic opportunities in future that [satisfy] shareholders' expectations and secure diversified business lines and growth prospects for the group."

The Bahraini group released a statement June 4 saying it was withdrawing from discussions to acquire SHUAA, before later removing the announcement from the Dubai Financial Market's website, according to The National.