Mubasher: KAMCO Investment on Tuesday announced the finalisation of a report on the consideration of a deal to acquire 396.43 million shares in Global Investment House.

The deal generated KWD 7.2 million ($23.71 million) in profit due to the fact that the fair value of the bought assets exceeded the deal’s value, KAMCO added in a filing to Boursa Kuwait.

The Kuwait-listed company revealed that the acquisition deal resulted in a KWD 92.8 million increase in its capital.

In February, the board of KAMCO approved the merger with Global Investment House and the reactivation of the company’s financing activity.