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Sun 19 Sep 2010 11:35 AM

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Adviser held meetings for Kuwait NBK's stake sale - paper

Stake in National Bank of Kuwait could exceed 10 percent, Al Qabas daily says.

Adviser held meetings for Kuwait NBK's stake sale - paper
KUWAITI BANK: NBK had said last month that it was not contacted by any party regarding the stake sale issue. (Getty Images)

Amanda Staveley, a financial adviser, has held meetings with several shareholders of National Bank of Kuwait (NBK), for a stake in the lender that could exceed 10 percent, a local newspaper said.

Staveley's firm PCP Capital Partners is holding the meetings, Kuwaiti daily newspaper Al Qabas said in an unsourced report on Sunday. The paper, however, did not name the potential buyer.

Last month, Al Qabas said that an Emarati investor was interested in a 10 percent stake in the lender, at a price of up to 1.7 dinars ($5.92) per share.

NBK had said last month that it was not contacted by any party regarding the stake sale issue.

In March, NBK's shareholders approved a 10 percent capital increase through a rights issue to fund expansion. (Reuters)

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