"Kuwait Projects Co (KIPCO) (KPRO.KW), the Gulf state's largest investment firm by assets, acquired a controlling stake in small Maltese trade finance specialist Fimbank FIM.MT through two of its banking subsidiaries.
United Gulf Bank UGBB.BH, KIPCO's Bahrain-based merchant banking unit and Burgan Bank (BURG.KW), the Kuwaiti firm's commercial banking arm, got regulatory approvals to buy a combined 68.7 percent stake in Fimbank, they said in separate press statements on Thursday.
United said it has received the green light from regulators to acquire up to 43.7 percent of Fimbank, while Burgan said it was buying a 25 percent stake."
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