|
|
Article: Shareholder sells Samba stake.
- Article from:
- TradeArabia (Manama, Bahrain)
- Article date:
- September 16, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Riyadh
A shareholder in troubled Ahmad Hamad Algosaibi and Brothers Company (Ahab) has sold a 2.2 per cent stake in Samba Financial Group, reports said.
Samba, the kingdom's second largest lender by market value, said on Sunday that Saud Algosaibi, who is at once Ahab's managing director and one of its main shareholders, was no longer Samba's chairman and had left its board, banking sources said.
The announcement follows the sale on Saturday of a 2.2 per cent stake in Samba to state-controlled Public Pension Agency by unknown parties, according to a report in our sister newspaper Gulf Daily News.
Sources said the 2.2 per cent ...