KAMCO signs SPA with NCH Ventures to acquire 70% of Global

KAMCO announced that signing the SPA is the first step towards completing the acquisition of the majority stake in Global.

  
CEO of KAMCO, Faisal Mansour Sarkhou

CEO of KAMCO, Faisal Mansour Sarkhou

Kuwait City: KAMCO Investment Company (“KAMCO”), a leading investment company with one of the largest AUMs in the region, signed a Sale and Purchase Agreement (SPA) with NCH Ventures S.P.C (“NCH”), a Bahrain domiciled entity representing the interests of more than 50 financial institutions. KAMCO will acquire 396,426,434 shares amounting to a 69.528% stake in Global Investment House (“Global”), after due diligence and requisite formalities are completed and agreed upon by both parties on all terms related to the acquisition.

KAMCO announced that signing the SPA is the first step towards completing the acquisition of the majority stake in Global. The next step will be fulfilling all regulatory requirements and completing requisite formalities set by various involved parties. The acquisition will include Global’s headquarters located in Kuwait, in addition to the firm’s offices in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan and Turkey.

Chief Executive Officer of KAMCO, Mr. Faisal Mansour Sarkhou said, “Signing this agreement is an important step in the acquisition process of what will be one of the largest acquisitions of its kind in the recent history of Kuwait’s investment sector and the region. We believe that this acquisition further solidifies our role in the market and demonstrates the scalability of our long-term business model.”

Mr. Sarkhou added, “Successfully concluding this transaction will strengthen KAMCO’s human capital, along with the Firm’s operational and financial profile. By combining the experience and expertise of both firms, we will evolve into a larger entity that can competitively operate on a global scale, capable of delivering more efficient results to the trusted shareholders and loyal clients from both sides. This transaction will also support and enhance the local economy, in line with the Amiri Vision to transform Kuwait into an international financial hub and trade center.”

Mr. Sarkhou expressed his gratitude for the seamless cooperation during the negotiations period by both parties. He also commended the hard work and effort put forth by all who are involved to ensure the successful outcome of this transaction.

-Ends-

KAMCO Investment Company K.S.C (Public) is a premier investment company based in Kuwait. The Company is one of the leading investment firms in the Gulf region in terms of assets under management (AUM), and is regulated by the Capital Markets Authority.

Established in 1998 and listed on the Boursa Kuwait in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB).

The Company has established itself as a regional leader in providing innovative products and services to its clients, enabling it to increase AUM to over USD 11.2 billion (as of 31 December 2017) and achieve a strong track record of 96 successful investment banking transactions worth around USD 15.2 billion (as of 31 December 2017).

With almost two decades worth of experience in conducting business with in investment industry, KAMCO has successfully established a robust reputation in the region, driven by its performance, prudent and conservative investment philosophy, solid business model and fundamental belief in implementing the highest standards of transparency, which has consistently commanded the goodwill of a wide and growing patron-base.

Through its strategy, the Company aims to continue building upon its core competencies to provide the MENA region with innovative investment management consultancy and services, in addition to financial services that meet the needs of clients through value-added investment products and a cautious investment approach that is supported by an experienced team and strong track record.

KAMCO Investment Company (DIFC) Limited (KAMCO DIFC) is a whole owned subsidiary of KAMCO Investment Company, incorporated in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority. 

Further information:                            

Amr Hassan                  

Assistant Vice President

Investor Relations Officer

Marketing Department

T: +965 2233 6697

M: +965 9729 9217

Amr.Hassan@kamconline.com 

© Press Release 2018

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