Qatar First Bank announces that one of its subsidiaries has signed a conditional sale contract to sell its full stake at English home company Banner

Qatar First Bank announces that one of its subsidiaries has signed a conditional sale contract to sell its full stake at English home company

One of the Bank’s subsidiaries has signed a conditional sale agreement to sell its full stake of 40% in EHM MAGAZACILIK SAN. VE TİC. A.Ş (“English Home”) which is incorporated in Turkey to a company wholly owned by the Aydin Family.

Subject to the fulfillment of all conditions and the receipt of all approvals and prior to completion of the transaction, the Bank will notify the Qatar Exchange with all details of the transaction.

Please note that the deal amount does not represent more than 10% of the total assets of the Bank. It is expected that the deal will close in the fourth quarter of 2018. It is worth noting that the closing of this deal cannot be guaranteed given that this is subject to obtaining all the required approvals.