DOHA: Qatar First Bank (QFB) announced that one of its subsidiaries has signed a conditional sale agreement to sell its full stake of 40 percent in ‘English Home’ (EHM MAGAZACILIK SAN. VE TİC. A.Ş), which is incorporated in Turkey to a company wholly owned by the Aydin Family.
Subject to the fulfillment of all conditions and the receipt of all approvals and prior to completion of the transaction, the Bank will notify the Qatar Stock Exchange (QSE) with all details of the transaction, QFB said in a regulatory filing yesterday.
The bank noted that the deal amount does not represent more than 10 percent of the total assets of QFB. It is expected that the deal will close in the fourth quarter of 2018. It is worth noting that the closing of this deal cannot be guaranteed given that this is subject to obtaining all the required approvals, QFB added.
