Al Thekair General Trading & Contracting Co. made an offer to acquire 74.3% stake in Kuwait and Middle East Financial Investment Company K.S.C.P. (KWSE:KMEFIC) from Ahli United Bank K.S.C.P. (KWSE:ALMUTAHED) and Ahli United Bank B.S.C. (BAX:AUB) on August 8, 2019. Ahli United Bank K.S.C.P. will sell 49.5% stake. Hamad Saleh Al Thekhair signed an agreement to acquire 75.6% stake in Kuwait and Middle East Financial Investment Company K.S.C.P. (KWSE:KMEFIC) from Ahli United Bank K.S.C.P. (KWSE:ALMUTAHED) and Ahli United Bank B.S.C. (BAX:AUB) for KWD 11.4 million on August 20, 2019. Hamad Saleh Al Thekhair will acquire 196.1 million shares and pay 58.043 Kuwaiti Fils per share. Ahli United Bank K.S.C.P. will sell 130.7 million shares representing 50.41% stake. The transaction is subject to regulatory approval and fulfilling conditions of the signed agreement. The transaction will have no “material” impact on Ahli United Bank K.S.C.P. and Ahli United Bank B.S.C.'s financial statements.

Al Thekair General Trading & Contracting Co. completed the acquisition of 75.6% stake in Kuwait and Middle East Financial Investment Company K.S.C.P. (KWSE:KMEFIC) from Ahli United Bank K.S.C.P. (KWSE:ALMUTAHED) and Ahli United Bank B.S.C. (BAX:AUB) for KWD 11.4 million on September 12, 2019. Al Thekair General Trading & Contracting Co. paid KWD 0.0581 per share.