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Kuwait's KAMCO Investment, Global Investment House complete merger

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Kuwait's KAMCO Investment, Global Investment House complete merger

Kuwait-based KAMCO Investment Co. KSCP completed the legal execution of its merger with Global Investment House KSC (Closed).

The deal was closed after the cancellation of treasury shares and the completion of a share swap of 138,877,635 Global Investment House shares with 104,884,308 new KAMCO shares at a swap ratio of 0.75522821 KAMCO share per Global Investment House share.

Following the transaction, KAMCO's authorized, issued and paid-up share capital stands at 34.2 million Kuwaiti dinars.

KAMCO CEO Faisal Sarkhou said the company will integrate its operations and systems in the coming weeks to prepare for a "fresh start" in 2020.

As of Dec. 13, US$1 was equivalent to 30 Kuwaiti fils.