RE: Follow the money19 Sep 2016 17:06
Kuwaiti investors pounce on venerable City broker WH Ireland
Kuwait's KEH Group will announce the purchase of nearly 30% of WH Ireland, the City broker, Sky News understands.
17:02, UK,
Saturday 17 September 2016 . A Kuwait-based company is poised to pounce on WH Ireland, one of the best-known stockbrokers in the City of London, amid expectations of a fresh wave of consolidation in the sector.
Sky News has learnt that Kuwaiti European Holdings Group (KEH) is close to announcing an agreement to purchase close to 30% of WH Ireland's shares, potentially as the precursor to a full takeover of the London-listed firm.
A deal could be announced as soon as Monday morning, according to insiders.
The Kuwaitis are said to be purchasing the shares from a collection of high-profile investors, including Lord Marland, a former Conservative Party treasurer, and Rupert Lowe, former chairman of Southampton Football Club.