QIIB moves to acquire Islamic Bank's entire share capital
7th September 2012
THE Birmingham-based Islamic Bank of Britain is set to be fully acquired by its major shareholder, Qatar International Islamic Bank, after the two sides reached an agreement on the terms of the deal.The acquisition will be implemented by means of a court-sanctioned scheme and under the terms of arrangement scheme shareholders will be entitled to receive 1p in cash for each IBB share.The acquisition values IBB's issued share capital at approximately £35.5m and the scheme shares at approximately £4.1m.The deal, which has ......for the full story register now for free or login below...
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