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Ahli United Bank completes sale of share in Kuwait and Middle East Financial

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Ahli United Bank completes sale of share in Kuwait and Middle East Financial

Bahrain-based Ahli United Bank BSC and Kuwaiti unit Ahli United Bank KSCP have concluded the sale of their respective shareholdings in Kuwait and Middle East Financial Investment Co. KSCP to Al-Thekeir General Trading and Contracting Co., which is owned by Hamad Saleh al-Thekair.

The lenders agreed to sell their 196,096,150 shares in Kuwait and Middle East Financial Investment to Al-Thekair. The shares are equivalent to 75.6% of the company's outstanding shares and were priced at 58.043 Kuwaiti fils per share.

As of Sept. 12, US$1 was equivalent to 0.30 Kuwaiti dinar.