Mubasher: KAMCO Investment has signed an initial acquisition agreement for the entire shares of Global Investment House – Egypt, directly and indirectly, through two companies in Kuwait and the Dubai International Financial Centre (DIFC).

This acquisition agreement is valued at EGP 1.38 million (KWD 24,211), KAMCO said, noting that this deal is subject to the approvals required from regulatory authorities in Egypt, according to a bourse disclosure to Boursa Kuwait on Monday.

It is noteworthy that Global Investment House – Egypt is fully owned by Global Investment House in Kuwait, which is a subsidiary of KAMCO.

The Boursa Kuwait-listed company stated that the objective of the acquisition agreement comes in line with KAMCO’s geographical expansion strategy.