QNB Said to Bid for Kuwait Finance House's Malaysian Operations
Qatar National Bank is among suitors that submitted final bids for Kuwait Finance House KSC’s Malaysian operations, people with knowledge of the matter said. Kuwait Finance House is evaluating offers from Qatar National Bank and at least one other party, according to the people. It may not proceed with the sale unless it can agree on a high enough price, one of the people said. Kuwait Finance House’s Malaysian unit had a book value of 1.7 billion ringgit ($395 million) and total assets of 10.5 billion ringgit at the end of December, according to its 2014 annual report. Offers for the business were affected by the difficult economic environment in the country, one of the people said.
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