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Tue 28 Nov 2017 11:36 AM

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Shuaa no longer seeking stake in Kuwait's Global Investment House

No reason was given by the company, which originally said it was interested in October

Shuaa no longer seeking stake in Kuwait's Global Investment House

Dubai’s Shuaa Capital is no longer pursuing a stake in the Kuwait-headquartered Global Investment House, according to the company.

No reason was given in a statement on the Dubai Financial Market by Shuaa Capital General Manager Fawad Tariq Khan.

“As per Shuaa’s usual pursuit of expansion and opportunities, such discussions are regularly sought and Shuaa will keep the market and regulators of any activities as and when required,” the statement read.

In October, Shuaa said it was interested in a deal with Global Investment House and noted that they were currently in talks for a controlling stake in 2018.

Earlier this week, Shuaa announced it has re-launched its securities brokerage business in Egypt after obtaining approval from the Egyptian Financial Supervisory Authority (EFSA), after having suspended brokerage operations in Egypt in 2008. 

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