Mubasher: Kamco Invest has completed the exit of a 24% stake in Al Mazaya Holding on behalf of a client at a total value of around KWD 10.5 million.

The Special Situations Asset Management, in collaboration with Investment Banking, at Kamco Invest has offered asset management solutions to manage and wind down the assets, according to a press release on Tuesday.

Since the service's debut in 2013, the total value of wind-down mandates managed by the Special Situations Asset Management team reaches around $690 million distributed across several clients.

The Executive Director of Special Situations Asset Management, Abdul Hamid Mihrez, said: "We are pleased with the outcome of managing this investment that was initiated back in 2013. Our objective was to enhance its value and successfully complete the exit in line with the objectives and strategic plan agreed upon with the client."

The Executive Director of Equity Capital Markets at Kamco Invest, Mohamed Sherif El Rafie, remarked: "The combined efforts of both teams resulted in adopting the most suitable exit strategy and in successfully completing the sale in an effective and timely manner, while achieving the added value for the client.”