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Ahli United Bank to sell shares in Kuwait and Middle East Financial Investment

Bahrain-based Ahli United Bank BSC and Kuwaiti unit Ahli United Bank KSCP agreed to sell their 196,096,150 shares in Kuwait and Middle East Financial Investment Co. KSCP to Hamad Saleh al-Thekair.

The shares are equivalent to 75.6% of outstanding shares and were priced at 58.043 Kuwaiti fils per share.

This deal is subject to regulatory approval, the bank said.

As of Aug. 20, US$1 was equivalent to 0.30 Kuwaiti dinar. 1 Kuwaiti dinar is subdivided into 1,000 fils.