Saudi National Bank (SNB), the majority shareholder of Samba Bank Limited, has received a non-binding offer from Najd Gateway Holding Company to acquire SNB’s entire stake in Samba Bank Pakistan.
The development was disclosed in a notice sent to the Pakistan Stock Exchange on Friday.
The proposed transaction involves the divestment of SNB’s 100 percent stake in Samba Bank Limited, representing approximately 84.51 percent of the bank’s shares. Samba Bank stated that any decision regarding the potential transaction, including access to information for due diligence, will be subject to internal and regulatory approvals as well as the execution of definitive agreements.
Last year, the majority shareholder, Saudi National Bank (SNB), had backed out of selling its stake in Samba Bank Limited.
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