Kuwait: Negotiations are under way to sell 70 per cent of the shares of Kuwait's Global Investment House, two company officials said at a shareholder meeting on Sunday.
Talks are ongoing, said deputy chief executive Sulaiman M. Al Rubaie at the company's annual general meeting in Kuwait.
The party that is interested in buying the stake is not a current investor in Global Investment House, chief executive Abdul Wahab Al Halabi said after the meeting ended.
Global Investment House is an asset management and investment banking firm, according to its website.
The stake is currently held by NCH Ventures SPC, Al Rubaie told Reuters on the sidelines of the meeting.
Global Investment House, whose shares are delisted, was hit hard by the financial crisis. There are no plans to relist the shares on the Kuwait bourse at the moment, Al Rubaie said.