Kuwait’s Sanam Real Estate Company said on Thursday it has sold a stake to the Finnish Evli Emerging Frontier Fund, one of Finland’s largest investment funds.

In a Kuwaiti bourse statement, Sanam said the Finnish fund, which covers the Middle East and other emerging economies, has acquired “a significant percentage of Sanam, exceeding 5 percent of the Company’s capital.”

The statement noted that Evli Company is considered one of the largest asset management firms in Finland, with approximately 18 billion euros ($19.3 billion) assets under management.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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