Sanad Holding Company (KWSE:SANAD) signed an initial contract to acquire 19.97% stake in Gulf Investment House K.S.C.P. (KWSE:GIH) from Kuwait Finance House, Investment Arm for KWD 0.75 million on November 22, 2017. Sanad Holding Company will acquire 32.79 million shares in Gulf Investment House K.S.C.P. at KWD 0.023 per share. This transaction is part of an exit policy of Kuwait Finance House. On the other hand, Sanad Holding Company stated that it has signed a Memorandum of Understanding with Gulf Investment House K.S.C.P., to improve the financial status and handle the debt of KWD 34.55 million with the creditor bank.

Sanad Holding Company (KWSE:SANAD) cancelled the acquisition of 19.97% stake in Gulf Investment House K.S.C.P. (KWSE:GIH) from Kuwait Finance House, Investment Arm on November 22, 2018.