GFH to sell Bahrain Financial Harbour stake

01 June 2010

Gulf Finance House (GFH) has unveiled plans to sell its stake in Bahrain Financial Harbour to Emar Bahrain in a bid to reduce its debt, The National has reported. The Islamic investment bank said the sale of around 50% is valued at $262m (Dhs962.3m), comprising $40m in cash and land. GFH said last month its net loss for the first three months of this year had shrunk to $7.5m from its net loss of $37.7m for the first quarter of last year.

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