Mubasher: KAMCO Investment said that the extraordinary general meeting (EGM) of Global Investment House approved the merger of KAMCO, according to a bourse statement on Wednesday.
The board members of Global has agreed for the merger according to the swap ration recommended by the investment advisor, 0.75522821 KAMCO share against each Global share, after obtaining regulatory approvals.
“In September 2018, KAMCO completed the acquisition of the majority stake thus becoming the largest shareholder owning around 70% of the company’s capital with the aim to merge both entities, where KAMCO will be the merging company and Global the merged company,” Global said in a press release on Tuesday, when it disclosed its financial results for fiscal year 2018.
Global recently announced a surge of 84% year-on-year in profits to KWD 4.6 million in FY18.
