Al Salam Bank sells 15.6% Seef Properties stake to GFH

Al Salam Bank, Bahrain's largest Islamic bank, sold its 15.63% stake in Seef Properties B.S.C. -- the Bahrain-listed owner and operator of Seef Mall and Isa Town Mall -- to GFH Financial Group, raising GFH's total stake in Seef Properties from about 12.3% (acquired May 2024) to 27.98%. ASB Capital acted as sell-side adviser; Al Salam Bank called it part of a 'group-wide optimisation initiative' to exit non-strategic holdings. Deal value not disclosed.