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8/2/24, 1:36 PM Dubai's Al Ansari Set to Purchase Bahrain's BFC Group for USD 200M - WAYA
Dubai’s Al Ansari Set to Purchase
Bahrain’s BFC Group for USD 200M
by WAYA Staff - Jul 31, 2024
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– Dubai-listed Al Ansari Financial Services (AAFS) is set to acquire Bahrain’s BFC Group Holdings
WLL (BFCGH) for $200 million, aiming to become the largest remittance and exchange provider in the
GCC.
– Post-acquisition, Al Ansari will increase its branch network to 410 locations across the UAE, Bahrain,
Kuwait, and India, and expand its workforce by 25% to 6,000 employees.
– The combined revenues of AAFS and BFCGH for 2023 reached approximately $385 million, marking
a 22% increase over AAFS’s prior revenue. The transaction is anticipated to complete in the first
quarter of 2025, following financing arrangements.
Dubai-listed Al Ansari Financial Services (AAFS) will acquire Bahrain’s BFC Group Holdings WLL
(BFCGH) in a $200 million deal, positioning itself as the largest remittance and exchange provider in
the GCC.
https://waya.media/dubais-al-ansari-set-to-purchase-bahrains-bfc-group-for-usd-200m/ 1/2
