KUWAIT, 4th May, 2015: Amwal International Investment Company ("Amwal") announced today the signing of an agreement under which Saudi Arabia based regional conglomerate, Al Muhaidib Group, will acquire a 35% ownership interest in Abyat Megastore.  Amwal acted as the exclusive financial advisor to Abyat and its shareholders on the transaction.

"We are very pleased to have been able to work with Abyat and Al Muhaidib on this exciting regional transaction.  These are two highly respected companies, both of which are leaders in their industries.  Amwal takes pride in being a trusted advisor that can provide clear and sound advice to its clients.  This transaction is a testament to the strength of Amwal's regional relationships and our ability to execute complex, cross border transactions," commented Bader F. Al-Rezaihan, Chairman of Amwal.  "I believe that Abyat is a truly inspiring brand with an impressive track record and we are confident that Al Muhaidib's value-add, partnership based approach and its track record of building successful regional businesses will be an asset to Abyat as it looks to expand in Saudi Arabia."

This transaction represents the continuation of Amwal's strategy to focus on consumer and business services companies.  The building materials sector in the region is likely to see a boost in the near future due to greater spending on housing by regional governments.  Adding to the growth of the sector will be the number of housing projects that are nearing completion, resulting in more homes on the market requiring fixtures, fittings, furnishings and other home solutions.

"The mergers and acquisition activity in the Gulf region continues to grow despite the falling oil prices. At Amwal, we have noticed that although the number of deals taking place in the market have reduced, deal values have increased to the levels witnessed in 2008," added Bader Al-Rezaihan.  "We are also witnessing an uptick in foreign investor interest and greater activity from strategic investors and family offices".

Al Muhaidab Group was founded in 1943 by the late Sheikh Abudlkader Al-Muhaideb. Today, Al Muhaidib is counted amongst the most successful and reputable investment companies in the region, with investments across a various sectors including food and retail, building materials and supplies, energy and logistics, contracting and real estate development.  Among the company's key achievements is the building of the King Abdullah Sports City. It is also renowned for its ownership of several marquee brands in the food sector, in addition to holding major shares in several Saudi companies, such as Savola and Bawan Holding.

Abyat Megastore is a Kuwaiti closed shareholder company, founded in 2008 with contributions from leading local companies and businessmen, including, the Al Marzouq Group, Al Thuwaini Holding Company, Khaled Hassan Abul Company and Sheikh Abdullah Salem Sabah Al Salem Al Sabah. Since inception, the company has been providing quality products and services to home owners, contractors and companies for all their construction, refurbishment and furnishing needs - all under one roof in the biggest store of its kind in the Middle East.  Following its success in Kuwait, Abyat Megastore began expanding regionally, with two stores opened to date in Saudi Arabia.

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Amwal International Investment Company K.S.C.P ("Amwal") is a public shareholding company, listed on the Kuwait Stock Exchange.

Amwal is engaged in principal investments, brokerage, advisory and related financial services with offices and investments, directly and indirectly, across the Middle East and Turkey.  Amwal has major investments and operations in the financial services, food and beverage, travel management and real estate sectors.

Amwal's major shareholders represent some of the leading institutions and family offices in the GCC.

Amwal is headquartered in Kuwait and is licensed and regulated by the Capital Markets Authority (CMA).

For more information, please contact:
Sahira Ladha
+965 666 97 200
sladha@webershandwick.com 

© Press Release 2015