Middle East

Kuwait Finance House gets offer for Aref affiliate from investors

DUBAI: Kuwait Finance House (KFH) has received an offer from investors to buy its stake in affiliate Aref Investment Group, the country’s biggest Islamic lender said in a bourse statement on Monday.

Aref is a diversified investment firm which is 53 percent owned by KFH and has share capital of $400 million, according to information on the companies’ websites.

“KFH has received an offer from investors who have shown preliminary interest in acquiring KFH’s stake in Aref Investment Group, and this offer is currently under study and no decision has been taken as yet,” the statement said.

KFH will “disclose this offer in the event that they have reached and signed a preliminary agreement, and cannot currently determine any financial impact on its statements in the absence of an agreement as yet.”

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