Shuaa to hold 87.22% stake in Kuwait's Amwal investment bank after acquisition - The National

Shuaa to hold 87.22% stake in Kuwait's Amwal investment bank after acquisition  - The National:

Shuaa Capital’s plans to acquire Kuwait’s Amwal International Investment Company moved one step forward after Amwal shareholders, who collectively own a 70.9 per cent share, agreed to sell their stake.

Dubai's Shuaa Capital will hold 87.22 per cent of Amwal after the acquisition is completed, the investment company said in a statement to the Dubai Financial Market on Sunday. The transaction is pending confirmation from Kuwait’s regulatory authorities.

“Such numbers remain subject to the final review from the Kuwait Clearing Company and confirmation from the Capital Markets Authority in Kuwait,” the company said.