Page 37 - AAE PR REPORT - July 2024

A New Chapter : Al Ansari

Financial Services to Acquire BFC

Group Holdings for $200 Million

By:Tonmoy Sayed
Date:
July 30, 2024

UAE’s Al Ansari Financial Services Acquire BFC Group

Holdings

In a significant move poised to reshape the financial services landscape in the GCC region, Al Ansari
Financial Services has signed a sales and purchase agreement to acquire a 100% stake in Bahrain’s BFC
Group Holdings WLL for $200 million. This strategic acquisition aims to bolster Al Ansari’s presence,
making it the largest remittance and exchange provider in the GCC by branch network.

Details of the Acquisition
Al Ansari Financial Services has agreed to purchase the entirety of BFC Group Holdings WLL, a Bahraini
remittance firm, for a substantial sum of $200 million. This acquisition signifies Al Ansari’s ambitious
growth plans and commitment to expanding its market footprint.

Strategic Significance

This acquisition is a strategic move for Al Ansari Financial Services, significantly increasing its presence
across the GCC region. By acquiring BFC Group Holdings, Al Ansari is set to enhance its competitive edge
and market share in the remittance and exchange industry.

https://thegulfentrepreneur.com/aafs-acquire-bfc-group-holdings/