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MANAMA: Bank of Bahrain and Kuwait (BBK) and Ithmaar Holding, the parent of Ithmaar Bank, have entered into initial talks exploring a potential acquisition by BBK of the Bahrain operations of Ithmaar Bank.
The acquisition also includes specific assets of IB Capital, a wholly-owned subsidiary of Ithmaar Holding, which said in a filing to Bahrain Bourse yesterday that a memorandum of understanding to be executed shortly between BBK and Ithmaar Holding will allow futher mutual discussions on the acquisition terms .
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