Kuwait Finance House Explores Bid for Stake in Saudi Investment Bank

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Kuwait Finance House Nouvelles

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(Bloomberg) -- Kuwait Finance House KSCP has been exploring the purchase of a significant stake in Saudi Investment Bank as dealmaking activity heats up in...

-- Kuwait Finance House KSCP has been exploring the purchase of a significant stake in Saudi Investment Bank as dealmaking activity heats up in the Middle East, according to people familiar with the matter.The Kuwaiti lender has been studying a potential investment to help bolster its regional presence, the people said, asking not to be identified as the information is private.Shares of Saudi Investment Bank jumped as much as 4.9% in Riyadh trading Tuesday. They were up 0.2% at 1:23 p.m.

Deliberations are ongoing and there’s no certainty they will result in a deal, according to the people. A spokesperson for Saudi Investment Bank didn’t respond to requests for comment. Saudi Investment Bank previously counted JPMorgan Chase & Co. as one of its biggest shareholders until the US bank sold off its stake in 2018.Chinese developer Shimao sweetens debt revamp terms ahead of liquidation hearing, sources say

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Kuwait Finance House Explores Bid for Stake in Saudi Investment BankKuwait Finance House KSCP has been exploring the purchase of a significant stake in Saudi Investment Bank as dealmaking activity heats up in the Middle East, according to people familiar with the matter.
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