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Article: United Gulf Bank sells stake in two banks to Burgan.
- Article from:
- Global Banking News (GBN)
- Article date:
- March 31, 2009
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Global Banking News-31 March 2009-United Gulf Bank sells stake in two banks to Burgan(C)2009 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 31 March 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
Bahrain's United Gulf Bank (BSE: UGB) has said that it made a profit of USD47m from the sale of its shares in Algeria Gulf Bank and Bank of Baghdad to Kuwait's Burgan Bank (KSE: BURG).
United Gulf Bank has sold its stake in both lenders for a total of USD150m, it said.
The ...