South Staffs moves to Bahrain
- From: Vol 5, Issue 11 (November 2004)
- Category: General
- Region: Europe
- Country: Bahrain and United Kingdom
- Related Companies: First Islamic Investment Bank and South Staffordshire Group
First Islamic Investment Bank has paid a handsome price for the utility.
The UK water sector acquired its first Middle Eastern owner in mid- October, when South Staffordshire agreed to a £236.7 million takeover bid from the First Islamic Investment Bank (see David Lloyd Owen, p38).
First Islamic is a Bahrain-based investment bank that operates under the principles of Shar’ia law – which, among its other restrictions, does not allow excessive ...
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