SICO Successfully Completes Advisory Mandate on the BFLC and Truffle Hospitality Share-Swap Acquisition

TDT | Manama

Email: mail@newsofbahrain.com

SICO BSC (c), a leading regional asset manager, broker, and investment bank with direct presence in Bahrain, Saudi Arabia, and the UAE, today announced the successful completion of the share swap acquisition by Bahrain Family Leisure Company B.S.C. (“BFLC”), a company listed on the Bahrain Bourse, of Truffle Hospitality Holding W.L.L. (“Truffle”), the hospitality subsidiary of Dividend Gate Capital W.L.L. (“DGC”). SICO acted as lead financial advisor on the transaction, which received all required shareholder and regulatory approvals.

The transaction was structured as a 100% share-swap, under which BFLC issued 13,809,524 new ordinary shares to DGC at a price of BHD 0.269 per share (comprising a nominal value of BHD 0.100 per share and a share premium of BHD 0.169 per share), representing an aggregate transaction value of approximately BHD 3.7 million. The shares were allotted to DGC and commenced trading on the Bahrain Bourse on 19 May 2026 in exchange for the transfer of 100% of the share capital of Truffle to BFLC. Following completion, DGC holds a 58% stake in BFLC, with existing shareholders retaining the remaining 42%, while Truffle became a wholly owned subsidiary of BFLC.

Following the issuance, BFLC’s total issued and fully paid-up share capital increased from 10,000,000 shares to 23,809,524 shares. The transaction creates one of the largest listed hospitality and food & beverage companies on the Bahrain Bourse. The combined group operates more than 20 brands and over 50 outlets across four GCC countries, spanning quick-service, casual dining, premium concepts, cafés, and central kitchen operations.