IFA Finalizes Sale of Addax Stake for $6 Million
Deal News | Apr 08, 2025 | Zawya
International Financial Advisors (IFA) of Kuwait has signed an agreement to divest its entire 30.285% stake in Addax Bahrain for a little over $6 million. The shares will be sold to Sanam Real Estate. The divestment, which involves more than 2.9 million shares, was approved by IFA's board of directors last month. The financial impact of this transaction is expected to be reflected in the second quarter of 2025, after the completion of necessary procedures.
Sectors
- Financial Services
- Real Estate
Geography
- Kuwait – The selling company, IFA, is based in Kuwait.
- Bahrain – The target company, Addax Bahrain, is based in Bahrain.
Industry
- Financial Services – The transaction involves International Financial Advisors, a financial services company, indicating relevance to the financial sector.
- Real Estate – The buyer of the stake is Sanam Real Estate, which shows the involvement and relevance of the real estate sector.
Financials
- 6,000,000 – The amount for which IFA is selling its stake in Addax Bahrain.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| International Financial Advisors (IFA) | Selling Company | Company | IFA is divesting its stake in Addax Bahrain. |
| Addax Bahrain | Target Company | Company | The company in which IFA holds a stake and is being sold. |
| Sanam Real Estate | Buying Company | Company | The company purchasing the stake from IFA. |