KUWAIT, Aug 18 (KUNA) -- KAMCO (KIPCO Asset Management Company) confirmed on Tuesday that it has received 20 opportunities across a range of sectors including real estate, health care and pharmaceutical, Islamic finance and industry, of which 20 percent have been short-listed for further consideration and evaluation following KAMCO's thorough screening.
In a press release, KAMCO said that this step comes after it was appointed as the sole and exclusive Acquisition Advisor by KIPCO Group Kuwait Projects (Holding) Company for KIPCO Group's Acquisition Program.
It also confirmed that it will continue to solicit proposals for such investment opportunities from Kuwaiti vendors in this regard.
The KIPCO Group Acquisition Program - announced in May 2009 - earmarked funding of KD 100 million to consider acquiring assets from Kuwaiti vendors in keeping with KIPCO Group's initiative to support the national economy and contribute in helping companies to restructure their assets.
KIPCO Group intends to acquire financially sound assets at reasonable valuations through cash acquisitions, asset swap, or through subscription in capital increases. (end) amf.ema KUNA 181340 Aug 09NNNN