Page 59 - AAE PR REPORT - July 2024

7/31/24, 9:30 AM Al Ansari To Acquire Bahrain's BFC Group For $200M

Banking & Insurance

UAE-Based Al Ansari Financial Services To Acquire Bahrain's

BFC Group Holdings For $200M

By Julian Nabil Forbes Middle East Staff Jul 30, 2024, 11:39 AM

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AAFS plans to secure financing under customary market terms to finance the acquisition. Image by T. Schneider /
Shutterstock.com.

UAE-based Al Ansari Financial Services (AAFS) has signed a sales and purchase agreement to fully
acquire Bahrain's BFC Group Holdings (BFCGH) for $200 million (AED 735 million).

Acquisition deal

This acquisition will expand AAFS's footprint and solidify its position as the largest remittance and
exchange provider in the Gulf region in terms of branch network, the UAE exchange house said in a

bourse filing on Tuesday.

AAFS plans to secure financing under customary market terms to finance the acquisition of the
Bahrain-based foreign exchange and remittance group.

https://www.forbesmiddleeast.com/money/banking-finance/al-ansari-financial-services-to-acquire-bfc-group-holdings-for-%24200m 1/2