Qatar First Bank Announces US$ 30 Million Sale Deal

 

December 30, 2018

 

QatarFirst Bank announced after the fulfillment of all the conditions precedent, transferred all its 100% shareholding in QF Ventures UAE to Yaghnam International, a company wholly owned by the Yaghnam family. QFVentures UAE had been previously used as a platform for investments in the services industry in the region. 

 

 The deal was consummated at a valuation of US$ 30 million to be paid over a period of 3 years.

 

 It should also be noted that the size of the transaction reflected in this disclosure does not represent more than 10% of the bank’s total assets.