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FinancialNews
03-10-18
Bahrain's GFH to purchase USD200m Villamar Sukuk
(MENAFN) Bahrain's GFH Financial Group reached an acquisition deal with Al Rajhi Bank to purchase circa USD200 million of Villamar Sukuk Company Limited.
The agreement is to likely have GFH financial see an advantage in the second half of this year considering preferential pricing the Group secured.
"We are pleased to announce this important acquisition for the Villamar Sukuk by the Group. The acquisition will allow GFH to complete the flagship Villamar project and achieve higher financial returns," CEO of GFH Hisham Alrayes stated.
The CEO added "Villamar will soon be in partnership with one of the most recognized hospitality groups that will set new standards for premium living in Bahrain. We plan to reap the fruits from this unique project on its completion, which is expected over the next 12~18 months."
MENAFN0310201800450000ID1097520662
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