GlobalCapital to buy bank

GlobalCapital said today it has agreed terms for the acquisition of 85.5% of the issued share capital of Medifin Holding Limited which holds 99.9% of the issued share capital of Mediterranean Bank p.l.c.

Mediterranean Bank p.l.c. is licensed by the Malta Financial Services Authority to carry on the business of banking under the Banking Act, 1994 and to provide investment services under the Investment Services Act, 1994.

The agreed terms are subject to confirmation following due diligence and further to all necessary regulatory approvals.