KUWAIT: Ahli United Bank (K.S.C.P.) and Ahli United Bank (B.S.C.) announced that they concluded the sale of their shares in Kuwait & Middle East Financial Investment Company (KMEFIC) of 130,715,275 and 65,380,875 shares respectively at price of Kuwaiti fils 58.1 per share to Al-Thekeir General Trading & Contracting Company which is fully owned by Hamad Saleh Al-Thekeir.
The transaction was completed after receiving the approvals of all necessary regulatory authorities to conclude the sale. Commenting on the transaction, Dr Anwar Ali Al-Mudhaf, Chairman of Ahli United Bank (K.S.C.P.), said: "Concluding the sale of AUB Kuwait's share in KMEFIC comes in line with the Bank's future strategic objectives to focus on its core banking activities," adding that this transaction will have a positive impact on operational efficiency and supporting shareholders' interests.
Dr Mudhaf expressed best wishes to the new owner and management of KMEFIC for continued success, growth and business continuity. KMEFIC is a Kuwaiti public shareholding company, listed on Kuwait stock exchange since July 1997 and operates within the investment sector with a focus on asset management.