Kamco in talks to buy North African firm
Kuwait, April 24, 2009
Kuwaiti fund manager Kipco Asset Management Company (Kamco) is finalising an acquisition in North Africa and would look at buying a Saudi investment firm next year, its chief executive said.
"(The firm) is small in size but our presence in that region is important," Saudoun Ali said on the sidelines of a shareholder meeting, referring to the company's plans in North Africa.
He added that Kamco, the asset management arm of investment firm Kuwait Projects Company (Kipco), had halted talks with unnamed partners to buy 75 per cent of a Saudi investment firm, but might resume and conclude those discussions next year. Ali declined to elaborate.-Reuters