Home Industry Finance Bahrain’s GFH receives $22.5m cash settlement GFH said the deal would have a positive impact on its Q2 profit by Robert Anderson May 20, 2018 Bahrain-based GFH Financial Group has received $22.5m in cash as part of a settlement of one of its legal claims, the company said on Saturday. The recovery will have a positive impact on the firm’s profitability in the second quarter, GFH said in a bourse statement. “Due to confidentiality clauses of the settlement, no further details can be shared.” Last May, GFH received $2.5m in cash as a legal settlement in a case filed against Prescott Energy and its affiliates. Read: Bahrain’s GFH receives $2.5m as legal settlement from Prescott Energy GFH said earlier this month it had hired Gulf International Bank to help it seek a cross-listing on Saudi Arabia’s stock market under a wider plan to participate in the kingdom’s privatisation programme. Read: Bahrain’s GFH Financial hires GIB for Saudi listing The company plans to grow its assets under management to reach $30bn by the end of 2020 through organic and non-organic growth. Its recent acquisitions include an 85 per cent stake in Dubai hospitality discount firm The Entertainer. Read: Bahrain’s GFH acquires majority stake in UAE discount firm The Entertainer 0 Comments