Jeezan Holding Co and Kuwait Invest Holding Co held a press conference at the Marriott Courtyard, Kuwait City, Monday to discuss their merger with the International Finance Company (IFC). President of the Board of Directors of Jeezan Holding Khaled Al-Mureikhi hoped the merger will prove successful and will add economic power to the companies involved as they head to the option of integration to cope with difficult global economic conditions, "and because many of the companies at the global and local level are burdened by debt. A merger is the best choice to preserve the interests of shareholders because the International Finance Company will have a large economic effect in Kuwait after the merger and will become financially stable, which will enable it to overcome the global financial crisis.
Al-Mureikhi also added that the new company will undertake a number of economic and investment activities that will enable it to invest in successful projects. From the point of view of Jeezan shareholders, the merger will prove beneficial to them because Jeezan shares are currently being traded at 60 fils and after the merger, the shares of the International Finance Company will increase in market value.
Following a meeting of the company's General Assembly, the minutes of the meeting were sent to the Ministry of Commerce and Industry to implement the integration process after three months from today and curb the trading of shares of both Jeezan and Kuwait Invest, he added.
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