Warba Bank K.S.C.P. (KWSE:WARBABANK) signed a share purchase agreement to acquire 75.72% stake in Kuwait and Middle East Financial Investment Company K.S.C.P. (KWSE:KMEFIC) from Ahli United Bank B.S.C. (BAX:AUB) and Ahli United Bank K.S.C.P. (KWSE:ALMUTAHED) for KWD 10.2 million on February 10, 2019. Under the terms of the transaction, Warba Bank will pay KWD 0.052 per share. The transaction is subject to regulatory authority approvals. As of May 8, 2019, Central Bank of Kuwait (CBK) has rejected the transaction.

Warba Bank K.S.C.P. (KWSE:WARBABANK) cancelled the acquisition of 75.72% stake in Kuwait and Middle East Financial Investment Company K.S.C.P. (KWSE:KMEFIC) from Ahli United Bank B.S.C. (BAX:AUB) and Ahli United Bank K.S.C.P. (KWSE:ALMUTAHED) on August 20, 2019. 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.