US EditionIthmaar, GFH End Faysal Bank Deal Talks
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Ithmaar, GFH End Faysal Bank Deal Talks
In May 2024, Ithmaar Holding, which holds a 66.7% stake in Faysal Bank Limited (FBL), approved the proposed sale of 75% of its stake in FBL to GFH Financial Group. This transaction would effectively transfer approximately 50% of FBL’s total outstanding shares, granting GFH a controlling interest in the bank. The deal was valued at $225 million, implying a total valuation of $450 million for FBL. The proposed transaction was subject to regulatory…
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