Ahli United Bank has received regulatory approval to acquire a 40 per cent stake in Saudi Arabian investment firm Mefic Capital, according to a statement.

 

No value was given for the transaction, which makes the Bahraini lender the largest shareholder in Mefic Capital.

 

Mefic Capital Chairman Abdulrahman Abdulaziz Al-Tuwaijri said the deal would support the firm's growth plans and increase its investment activities. - Reuters