Global concludes acquisition of 27.2% stake in Alsoor for leading Kuwaiti group
Global acts as buy-side M&A advisor
KUWAIT: Global Investment House (Global), a regional asset management and investment banking firm headquartered in Kuwait, with offices in major capital markets in the MENA region, successfully advised a leading Group in Kuwait on the acquisition of a 27.2 percent stake in Alsoor International Holding Company (Alsoor) for total amount of KD 15 million.
The Investment Banking team at Global was the buy-side advisors to the group on this acquisition. Global arranged and negotiated the transaction with several shareholders in addition to procuring the necessary regulatory approvals, and managing the execution process.
Alsoor owns one of the leading finance companies in Kuwait offering consumer loans to purchase vehicles and other tangible products and offers corporate clients customized solutions for their financing needs including turnkey financing for government projects. This acquisition will strengthen the Group’s position in the financial sector and mainly the financing and leasing services.
Omar Al-Temiemy, Vice President, Investment Banking at Global commented: “We are proud to have successfully concluded the second M&A transaction efficiently since the beginning of the year. The trust and support we have received from the buyer and other related parties have been key in the success of this transaction”.
He added: “This transaction reaffirms our 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”.
It is worth noting that the buyer is one of the leading diversified privately held business groups based in Kuwait with presence in eight markets and covers various sectors including automotive, engineering, retail, trading and manufacturing, security and financial services. The Group employs 15,000 people, owns over 40 different companies and subsidiaries and represents more than 200 international brands.