Mubasher: KAMCO Investment has received the Capital Markets Authority’s (CMA) approval for its merger with Global Investment House.

The merger deal will be executed through combining the two entities, as KAMCO will be the merging company while Global will be the merged firm, according to a bourse disclosure on Sunday.

KAMCO clarified that the two companies are about to complete all the procedures required for the merger based on terms and conditions.

The announcement of the CMA’s approval will not have any impact on KAMCO’s financial position, yet the effect will be disclosed after the merger is finalised.

In March 2019, Global’s board of directors has approved the project proposal of a merger with KAMCO.

In 2018, KAMCO had acquired the majority stake of 69.528% in Global.