Page 99 - AAE PR REPORT - July 2024

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.

https://www.msn.com/en-ae/money/news/dubai-al-ansari-financial-services-fully-acquires-
bahrain-s-bfc-group-for-dh735-million/ar-BB1qRYgM?ocid=BingNewsSerp