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Kuwait City: KAMCO Investment Company (“KAMCO”), a leading investment company with one of the largest AUMs in the region, announced that it has completed the previously announced purchase of 396,426,434 shares in Global Investment House (“Global”), equivalent to a 69.528% stake, from NCH Ventures S.P.C (“NCH”), a Bahrain domiciled entity representing the interests of more than 50 financial institutions.
KAMCO has successfully concluded the purchase after receiving all required approvals from the CMA Kuwait and other appropriate regulatory authorities. 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.
Chief Executive Officer of KAMCO, Mr. Faisal Mansour Sarkhou, said, “KAMCO and Global have a combined four decades worth of experience in the investment sector and are considered key players in the local and regional investment communities. Completing this transaction is a great milestone for us as it validates all our hard work over the past few months. We are pleased by the successful outcome and would like to thank our valued clients and stakeholders as this historic moment for KAMCO would not be possible without them. We also extend our gratitude and appreciation towards the collaborative efforts of all those who were involved in making this transaction a seamless and successful one. We would like to thank the current and previous board of directors of Global for steering it into recovery following its reorganization a number of years ago, our advisory team Alvarez & Marsal, as the integration advisor for the acquisition, and Freshfields Bruckhaus Deringer LLP as our legal adviser.”
He also said, “The last two decades witnessed massive shifts in the financial industry. Throughout this time, we have been tuning the dials to adjust to market conditions while grasping fresh opportunities and adapting valuable insights. KAMCO remains dedicated to enhancing and building upon its innovative investment strategy to cater to our corporate and individual clients, as we plan to offer a wider array of quality investment products and expand our range of financial services. 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. We believe that this step will strengthen our position as a leading investment firm while providing our clients with the best guidance and resources to help them invest their money smarter, more efficiently, and within the most suitable asset classes to meet their long-term investment goals.”
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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 10.2 billion (as of 30 June 2018) and achieve a strong track record of 98 successful investment banking transactions worth around USD 15.8 billion (as of 30 June 2018).
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
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