UGH gets Approval to buy stake in Bank of Baghdad

By John Lee.

Bahrain-listed United Gulf Holding (UGH) has received approval from the Central Bank of Iraq (CBI) to buy a 51.8 percent stake in Bank of Baghdad.

According to The National, the company will acquire the stake from Kuwait-based Burgan Bank.

The stock-market announcement can be found here.

(Sources: UGH, The National)

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