Charles Russell Speechlys Counsels BMB through Successful Takeover
Charles Russell Speechlys has advised Bahrain Middle East Bank B.S.C. (“BMB”), a wholesale bank listed on the Bahrain Bourse, in relation to the voluntary takeover bid by its largest current shareholder.
The takeover of BMB is the first takeover involving a bank in the Kingdom of Bahrain since 2014.
Ritchie Skelding, CEO at BMB, commented:
"Charles Russell Speechlys provided pragmatic, timely and accurate support on the acquisition of the bank in a complex regulatory environment without losing sight of our commercial objectives".
Charles Russell Speechlys advised BMB on all regulatory matters relating to the takeover offer, including in relation to the requirements of the Central Bank of Bahrain (“CBB”) and the regulations set out in Volume 6 – Takeovers, Mergers & Acquisitions Module of the CBB’s Rulebook, as well as drafting relevant offer documentation including the board circular.
Rupert Copeman-Hill commented:
“It was a privilege and a pleasure to act for BMB on its takeover. From a regulatory and technical perspective, it was a fascinating capital markets transaction, not least because it is the first bank takeover to take place in the Kingdom of Bahrain since 2014”.
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