Dubai – Mubasher: Shuaa Capital has announced that it signed a preliminary agreement to acquire Kuwait’s Amwal International Investment Company.

Shuaa obtained Central Bank of Kuwait’s (CBK) approval to conclude the transaction, according to a bourse statement released on Sunday.

“Shuaa is in the process of initiating the necessary procedures as stipulated under the capital markets executive regulations and relevant laws of Kuwait.”

The deal’s value was not released by the Emirati investment company.

Earlier in May, SHUAA Capital inked a memorandum of understanding (MoU) with Saudi Arabia’s Jabal Omar Development Company to launch and manage real estate investment vehicles in Saudi Arabia.