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Shareholders in KFIC Invest have approved its plan to acquire Rasameel, a Kuwaiti company that specialises in shariah-compliant investments.
The deal was given the green light at an extraordinary general assembly meeting in Kuwait City on Sunday.
KFIC Invest – formerly known as Kuwait Finance & Investment Company – said Rasameel would be dissolved and its financial assets transferred. The share swap deal was valued at KD8.1 million ($26.4 million) when it was announced last year.
The two companies had been negotiating for…
