Mubasher: Kuwait Finance House (KFH) has denied the news published in a local newspaper on Sunday regarding a final agreement with Sanad Holding to sell KFH’s stake in Gulf Investment House (GIH) to Sanad, according to a bourse statement on Monday.
Late November 2017, KFH noted that it has changed its business in GIH to be an exit from investment instead of a long-term investment. KFH also added that it had signed a primary contract with Sanad to sell a stake of 19.967% in GIH.
On Sunday, Al Rai Newspaper said that KFH has reached a final agreement with Sanad to sell the bank’s equity in GIH at a total value of KWD 14 million.
