KAMCO signs SPA with NCH Ventures to acquire 70% of Global

KAMCO Investment Company (“KAMCO”), a leading investment company with one of the largest AUMs in the region, signed a Sale and Purchase Agreement (SPA) with NCH Ventures S.P.C (“NCH”), a Bahrain domiciled entity representing the interests of more than 50 financial institutions, to acquire 396,426,434 shares amounting to a 69.528% stake in Global Investment House (“Global”), after due diligence and requisite formalities are completed and agreed upon by both parties on all terms related to the acquisition.

KAMCO announced that signing the SPA is the first step towards completing the acquisition of the majority stake in Global. The next step will be fulfilling all regulatory requirements and completing requisite formalities set by various involved parties. The acquisition will include Global’s headquarters located in Kuwait, in addition to the firm’s offices in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan and Turkey.

Chief Executive Officer of KAMCO, Mr. Faisal Mansour Sarkhou said, “Signing this agreement is an important step in the acquisition process of what will be one of the largest acquisitions of its kind in the recent history of Kuwait’s investment sector and the region. We believe that this acquisition further solidifies our role in the market and demonstrates the scalability of our long-term business model.”

Mr. Sarkhou added, “Successfully concluding this transaction will strengthen KAMCO’s human capital, along with the Firm’s operational and financial profile. By combining the experience and expertise of both firms, we will evolve into a larger entity that can competitively operate on a global scale, capable of delivering more efficient results to the trusted shareholders and loyal clients from both sides. This transaction will also support and enhance the local economy, in line with the Amiri Vision to transform Kuwait into an international financial hub and trade center.”

Mr. Sarkhou expressed his gratitude for the seamless cooperation during the negotiations period by both parties. He also commended the hard work and effort put forth by all who are involved to ensure the successful outcome of this transaction.