Karachi March 29 2024: Bank Alfalah Limited had made a Non-Binding indicative offer to Saudi National Bank, the majority shareholder of Samba Bank Limited, to acquire their 100% stake in Samba, according to Bank filing to the Pakistan Stock Exchange.
This offer constitutes approximately 84.51% shares in Samba, subject to satisfactory due diligence, execution of definitive agreements, internal corporate approvals, obtaining all necessary regulatory approvals and compliance with all applicable legal and regulatory procedures including compliance with the Securities Act, 2015 and associated regulations.
“We are pleased to inform you that SNB has confirmed to us that they are willing to entertain our NonBinding indicative offer. We will now seek approval of the State Bank of Pakistan to commence due diligence on Samba” states Bank Alafalah.
