Mubasher: KAMCO Investment Company has purchased 396.42 million shares or a 69.528% stake in Global Investment House from NCH Ventures, a Bahrain domiciled entity representing the interests of over 50 financial institutions.
KAMCO, a Kuwait-based leading investment company with one of the largest assets under management AUMs in the Middle East region, has acquired the equity after receiving all required approvals from the Capital Markets Authority (CMA) in addition to other appropriate regulatory authorities, according to a recent statement.
“This purchase of the stake in the parent entity extends control over Global’s existing investment products and services, managed real estate, asset management business, Global’s brokerage subsidiary and physical infrastructure in Kuwait, as well as Global’s international offices in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan, and Turkey,” the statement added.
Chief Executive Officer of KAMCO, Faisal Sarkhou, said, stated, “This transaction will further advance KAMCO’s technological platforms and capabilities, while developing our workforce through a core competency framework, giving us a competitive advantage in the local and regional market.”
