Page 72 - AAE PR REPORT - July 2024

7/31/24, 9:32 AM Dubai: Al Ansari Financial Services Fully Acquires Bahrain's BFC Group For Dh735 Million

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The Dubai-based company plans to secure financing under customary market terms to fund
the acquisition.

The acquisition is subject to regulatory approvals.

“This move not only enhances our regional presence but also aligns with our broader strategy
of diversification and expansion into new markets,” said Rashed Ali Al Ansari, Group CEO of

Al Ansari Financial Services.

“There are a lot of similarities which make this a successful deal. We are from the same
industry and understand each other's business. This is pivotal because it ensures smooth

handover and handing over of the business post-acquisition. There will be cost energies also,”
he added.

“Our team has worked tirelessly to build a strong foundation, and we are confident that Al

Ansari Financial Services PJSC will continue to drive our mission forward, ensuring the best
possible outcomes for our clients and stakeholders. We look forward to seeing the remarkable

achievements that will undoubtedly result from this acquisition,” said Ebrahim Nonoo,
managing director and CEO of BFC Group.

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