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.
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