Kuwait - Mubasher: Kuwaiti European Holding Group (KEH) announced on Tuesday that it has acquired a 23.1% stake in WH Ireland Group for GBP 8.45 million ($10.96 million), according to a press release.

As part of the transaction the Group Chief Executive Officer, Humphrey Percy, will also become a KEH Group representative on the WH Ireland board.

“An important component of KEH’s strategy is to build out a financial services division that can develop a true bridge between investors in Kuwait and elsewhere in the Middle East, and financial markets in Europe, particularly in London,” said Humphrey Percy, the KEH Group CEO.

“Having a significant stake in a prominent London securities house such as WH Ireland is an exciting next step of this strategy and I look forward to working with the team at WH Ireland to build this partnership,” he added.

Richard Killingbeck, CEO, WH Ireland commented: “This is good news for WH Ireland, its shareholders, clients and employees. We have moved the business a long way forward over the last 12 months and KEH’s investment reflects the confidence they have in the Company and its strategic development plan.

“I am pleased to welcome KEH as a long term investor and have no doubt that their involvement will open up significant opportunities for us,” Killingbeck added.