Arabian Business, Wednesday, Sep 18, 2019 | Muharram 19, 1441
Shareholders back proposed merger between Kuwait's Kamco, Global
Kamco Investment Company on Tuesday announced that its
shareholders have approved all matters related to a draft merger contract
between the company and Global Investment House.
The approval came at Kamco's extraordinary general assembly meeting when
shareholders approved the reduction of Kamco's issued and paid up share capital
from KD26.3 million to KD23.7 million.
In July, Kamco and Global, two firms operating in the Kuwaiti asset management
and investment banking industry, secured regulatory approval for a proposed
The companies said they have received the Capital Markets Authority’s approval
on the draft merger contract in which Kamco will be the merging company and
Global the merged company.
Once successfully concluded, the merger will position the combined entity as one
of the largest investment companies in the region in terms of assets under
management totaling about $14 billion.
The merger is categorised as the largest of its kind in Kuwait’s investment
Kamco acquired 70 percent acquisition of Global from NCH Ventures last September
and since the acquisition, both companies have engaged in an extensive
The companies said the combined entity will serve thousands of clients from
seven local offices.