Mubasher: Gulf Hotels Group announced its full acquisition of Bahrain Tourism Company (BTC), both listed on the Bahrain Bourse, through a swap deal, according to a bourse filing Thursday.
“Accordingly, all shareholders who previously held shares in BTC have now been issued shares in Gulf Hotels Group at the approved swap rate,” announced the Group on its website.
In May, the Gulf Hotels’ ordinary general meeting (OGM) approved the acquisition deal through increasing the company’s capital to BHD 30 million and using the new swapped shares.
