Kuwait's Global Investment House said it won an arbitration appeal against Al Madina for Finance and Investment Co over a disputed share repurchase agreement.
In April, Madina won an arbitration against Global over an 11.57 million dinars ($41.28 million) which Global appealed and won. The funds will now be paid to Global, the firm said in a statement on the Kuwaiti bourse website on Tuesday.
Global said it cannot specify how the ruling would reflect on its financials because it depends on when the firm receives the amount from Madina.
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