Dubai-based SHUAA Capital PSC said May 13 that it signed an initial agreement with Amwal International Investment Co. KSCP to launch a voluntary acquisition offer for the Kuwaiti investment company after securing in-principle approval from the Central Bank of Kuwait.
In July 2017, Shuaa Capital acquired an approximately 8% stake in Amwal International. Its Gulf Finance Corp. PJSC unit also owns about 3% of the company.
