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Kuwait's Burgan gets approval for stake buy in Maltese bank
May 30, 2013 / 10:08 AM / 4 years ago

Kuwait's Burgan gets approval for stake buy in Maltese bank

KUWAIT, May 30 (Reuters) - Burgan Bank said on Thursday it received regulatory approval to buy a 25 percent stake in Malta’s Fimbank.

Burgan, the commercial banking arm of Kuwait Projects Co (KIPCO), said in October it was planning to buy the stake in the trade finance specialist for an undisclosed price.

Burgan, which also bought the Turkish arm of EFG Eurobank last year, has received approval from Maltese authorities for the Fimbank purchase, Thursday’s statement to the stock exchange said. (Reporting by Sylvia Westall; Editing Mirna Sleiman)

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