Bahrain-listed Khaleeji Commercial Bank said on Wednesday it agreed to acquire BLC Bank-France for $250 million. The bank acquires a European Union-wide banking license as well as BLC's four branches in the United Arab Emirates and one branch in Paris.
Khaleeji said in a statement posted on the Qatari bourse website the rebranding and integration of BLC will be completed over the next six months, with all 130 BLC employees being taken over.