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Unicorn Investment Bank has reached agreement with the shareholders of Bahrain Financing Company (BFC), the oldest and one of the leading foreign exchange and remittance houses in the GCC, to acquire the company.
The acquisition covers Bahrain Exchange Company in Kuwait and EzRemit in the United Kingdom. The Strategic Acquisition Fund, a financial services acquisition fund promoted by Unicorn and established in cooperation with a number of strategic founding investors from across the GCC, will take a significant stake in the acquisition.
Founded in 1917, BFC was Bahrain's first foreign exchange company and the first financial services institution to be established in the GCC region. It is the market leader in foreign exchange and money transfer services in Bahrain. Majid Al Sayed Bader Al Refai, managing director and CEO of Unicorn, said: "We look forward to working with the company's management and our strategic partners to further grow the company and expand its operations."
