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KIPCO eyeing KHAC stake

KUWAIT CITY: Investment group Kuwait Projects Company (KIPCO) said yesterday it would bid for a stake in Kuwait Health Assurance Company (KHAC) - the first such announcement since the bidding process opened in April.

KHAC, which wants to sell a 26 per cent strategic stake to investors, aims to privatise expatriate health insurance and associated medical care.

KIPCO, which made the announcement in a statement to the stock exchange, is a major regional investment house that holds stakes in media, industrial, financial and real estate companies.

Kuwait Investment Authority, the country's sovereign wealth fund, set the conditions for the sale and opened the bidding process in April.



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