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29-Mar-2016

KFH gets offer for its 53% stake in Aref Investment Group

Kuwait Finance House (KFH) has received an offer from investors to buy its 53% stake in affiliate Aref Investment Group, KFH said in a bourse statement. Aref is a diversified investment firm which is 53% owned by KFH and has a share capital of USD400 million. "KFH has received an offer from investors who have shown preliminary interest in acquiring KFH's stake in Aref Investment Group, and this offer is currently under study and no decision has been taken as yet," the statement said. KFH will "disclose this offer in the event that they have reached and signed a preliminary agreement, and cannot currently determine any financial impact on its statements in the absence of an agreement as yet." The statement added. (Reuters)

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