Kuwait's Markaz to manage auction of Dhaman's strategic investor shares

Kuwait Financial Centre 'Markaz' has been appointed by the Health Assurance Hospitals Company (Dhaman) to manage the auction of strategic investor shares in the company, which will become one of the key healthcare providers for expatriates in Kuwait.

The collaboration, the firms believe, will help solidify Markaz’s track record as a leading investment banking institution in the Middle East and North Africa region.

As the financial advisor, Markaz will manage the public auction process for the sale of 26 per cent stake in Dhaman.

Markaz CEO Ali H. Khalil said: “This appointment is a testimony to the stellar track record and the experience of Markaz’s investment banking services across various sectors. By employing the best of our technical execution capabilities, we will help bring on board a strategic investor who will add value to Dhaman and play a decisive role in accelerating its growth.

"Through this collaboration, we aim to forge a strong relationship with Dhaman, which will establish itself as a leading provider of healthcare solutions in Kuwait.”

Dhaman Acting CEO Dr. Mohammad Al-Qenai added: “This offering of 26% share in the company comes in conjunction with the near completion of the first operational phase, as it is planned to receive hospital buildings in Jahra and Ahmadi governorates from the contractor at the beginning of 2022.

"Dhaman is recruiting qualified and experienced staff in related fields in parallel with the completion of the operation of five primary healthcare centres and the start of receiving beneficiaries of the new mandatory medical insurance service expected in the second half of 2022."

Additionally, Abdulaziz Alardi, from Meshari Al-Osaimi Law Firm, the legal adviser appointed by Dhaman for the sale of the shares, said: “We were able to obtain a Resolution from the Capital Markets Authority (CMA) regarding proceeding with the sale of the shares after the current investor failed to pay the consideration for the shares, in accordance with Article 155 of the Companies Law.”

Markaz offers its clients a variety of investment banking solutions across advisory related to mergers and acquisitions (M&A), equity and debt issuance, listing and credit rating advisory and capital restructuring.-TradeArabia News Service

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