Mubasher: Global Investment House (Global) has completed advising a large Kuwaiti Group on acquiring a 27.2% stake in Alsoor International Holding Company (Alsoor).
The total value of the takeover stood at KWD 15 million, the Kuwait-based regional asset management and investment banking firm noted.
“This acquisition will strengthen the Group’s position in the financial sector and mainly the financing and leasing services,” Global said.
Global’s investment banking team negotiated and arranged the deal with Alsoor, as well as obtained the regulatory approvals for finalising the transaction.
This deal “reaffirms [Global’s] role as a leading multi-sector M&A advisor in Kuwait, and the wider MENA region. Today, we have a solid pipeline of regional M&A mandates covering a multitude of sectors including financial services, sports’ media, healthcare, logistics and construction” Global’s vice president Omar Al Temiemy said.
The buyer of Alsoor’s stake is a Kuwait-based leading diversified privately held business group and has a presence in eight markets. It covers various sectors stretching from automotive to engineering, retail, trading and manufacturing, security and financial services.
It is worth noting that Alsoor has one of the pioneering finance companies in Kuwait providing consumer loans to buy vehicles. Alsoor also offers customised solutions for corporate clients to meet their financing needs including turnkey financing for government projects.