Kutayba Y. Alghanim Announces Sale of Gulf Bank Stake to Warba Bank

Deal News | Jan 09, 2025 | Zawya

Kutayba Y. Alghanim Announces Sale of Gulf Bank Stake to Warba Bank

Kutayba Y. Alghanim has announced an agreement to sell his entire stake in Gulf Bank to Warba Bank. The transaction involves transferring all shares held by Alghanim Trading Company LLC, which represents 32.75% of Gulf Bank's share capital. This marks the end of Alghanim's investment in Gulf Bank, which began in 1996, during which time the bank's total assets grew significantly, reaching KWD 5 billion. The sale is part of Alghanim's strategic realignment, allowing the group to redirect its investments towards new ventures that align with its broader strategy and contribute to economic growth in Kuwait and the MENA region. Alghanim Industries, a significant component of Kutayba Y. Alghanim Group, operates across diverse sectors and regions, focusing on sustainable and strategic growth.

Sectors

  • Banking & Finance
  • Investment Management

Geography

  • Kuwait – The transaction and involved parties, including Gulf Bank and Warba Bank, are based in Kuwait.
  • Middle East and North Africa (MENA) – Alghanim Industries, a key player in the transaction, operates extensively across the MENA region.

Industry

  • Banking & Finance – The article involves a significant transaction in the banking sector, with Warba Bank acquiring a substantial stake in Gulf Bank.
  • Investment Management – The divestment by Kutayba Y. Alghanim and the strategic redirection of investments align with industry trends in investment management.

Financials

  • KWD 5 billion – The total assets of Gulf Bank have reached this value as a result of Alghanim's investment since 1996.

Participants

NameRoleTypeDescription
Kutayba Y. AlghanimSelling CompanyPeopleOwner of Alghanim Trading Company LLC, selling its stake in Gulf Bank.
Warba BankBidding CompanyCompaniesBuyer of the 32.75% stake in Gulf Bank from Alghanim Trading Company LLC.
Gulf BankTarget CompanyCompaniesThe bank in which the stake is being sold.
Alghanim IndustriesOtherCompaniesA major part of Kutayba Y. Alghanim Group, focusing on diversified sectors in the MENA region.