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8/13/24, 1:18 PM Al Ansari Financial Services Signs Agreement To Acquire BFC Group Holdings With Strategic Advisory From Protiviti Member Firm …
Al Ansari Financial Services Signs Agreement
To Acquire BFC Group Holdings With Strategic
Advisory From Protiviti Member Firm For The
Middle East Region
Date Share on Facebook Tweet on Twitter
8/7/2024 7:04:46 AM
(MENAFN- Mid-East) Protiviti Member Firm for the Middle East region, a global consulting
firm, proudly announces its role as the exclusive financial advisor to Al Ansari Financial
Services PJSC (AAFS) in successfully signing a sales and purchase agreement to acquire
BFC Group Holdings W.L.L. (BFCGH). The transaction, valued at $200 million (AED 735
million), marks a significant milestone for AAFS, positioning the company as the largest
remittance and foreign exchange provider in the GCC region by branch network.
This Acquisition involves the purchase of 100 percent of BFCGH, a leading foreign
exchange and remittance group headquartered in Bahrain. The deal enables AAFS to expand
its footprint across the UAE, Bahrain, Kuwait, and India, bringing the combined entity's branch
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