Kuwait's Dar mulls stake sale - Emirates24|7

Kuwait's Dar mulls stake sale


Kuwait's Investment Dar said on Tuesday it might consider selling a minority stake to an investor after being approached by international banks last year.

"We have been approached by investment banks...(but) we are currently not in (any) talks. Dar might look at any offer," Executive Vice President Amr Abou El-Seoud told Reuters, adding that it was up to the shareholders to decide. The Islamic investment firm, which bought half of British luxury carmaker Aston Martin, had been approached more than six months ago for a minority stake buy. He declined to name the banks.

"The point here (is that) it is not Dar that is selling, it is the shareholders decision," he added.

Kuwaiti newspapers have repeatedly reported that international investors might be interested in buying a stake, possibly through a capital hike, in the firm, which is riding on a boom with Islamic investment products. (Reuters)