SeeF Properties - appoints SICO B.S.C. as independent professional advisor for takeover offer from GFH Bank

Al Salam Bank, the largest Islamic bank in Bahrain, has announced the sale of its 15.6% stake in Seef Properties B.S.C. to GFH. The transaction was facilitated by ASB Capital, Al Salam Bank’s asset management arm, which was appointed as the sell-side advisor for the deal. ASB Capital provided advisory services in sourcing, structuring, and executing the bank’s minority shareholding exit in Seef Properties.

Simultaneously, Seef Properties is reportedly under review for a voluntary takeover offer from GFH Bank. In a separate development, SICO B.S.C., a leading regional asset manager and investment bank, has successfully completed an advisory mandate involving the share-swap acquisition of Truffle Hospitality Holding by Bahrain Family Leisure Company (BFLC). SICO acted as lead financial advisor on the transaction, which was structured as a 100% share-swap and valued at approximately BHD 3.7 million.

These developments highlight the growing role of regional financial institutions in facilitating complex corporate transactions and capital market activities. As Bahrain’s capital markets continue to evolve, such transactions underscore the increasing sophistication and integration of regional financial services.