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Islamic Finance Briefing - Categorized | Banking, Investment, Market Moves more

Kuwait’s NBK takes 13.2 pct Boubyan Bank stake

Posted on 23 July 2009

From Reuters: National Bank of Kuwait bought a 13.2 percent stake in Boubyan Bank for $295 million in an auction on Wednesday, becoming the largest shareholder in the Islamic lender.

Kuwait Investment Authority (KIA), the Gulf Arab state’s sovereign wealth fund, was selling its 19.8 percent stake in Boubyan, or 231 million shares, in an auction in which Securities Group Co also competed………Full Article: Source

 
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