Advertisement
| 22 April, 2018

Talks to sell 70% of Kuwait's Global Investment House underway- deputy CEO

The party that is interested in buying the stake is not a current investor in Global Investment House, chief executive Abdul wahab Al-Halabi said.

Kuwaiti investors watch the price index boards at the Kuwait Stock Exchange October 7, 2008.

Kuwaiti investors watch the price index boards at the Kuwait Stock Exchange October 7, 2008.

REUTERS/Stephanie McGehee

KUWAIT- Negotiations are under way to sell 70 percent of the shares of Kuwait's Global Investment House, two company officials said at a shareholder meeting on Sunday.

Talks are ongoing, said deputy chief executive Sulaiman M. Al-Rubaie at the company's annual general meeting in Kuwait.

The party that is interested in buying the stake is not a current investor in Global Investment House, chief executive Abdul wahab Al-Halabi said after the meeting ended.

Global Investment House is an asset management and investment banking firm, according to its website.

Advertisement
The stake is currently held by NCH Ventures SPC, Al-Rubaie told Reuters on the sidelines of the meeting.

Global Investment House, whose shares are delisted, was hit hard by the financial crisis. There are no plans to relist the shares on the Kuwait bourse at the moment, Al-Rubaie said.

(Reporting by Ahmed Hagagy, writing by Hadeel Al Sayegh Editing by Keith Weir) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))