KUWAIT, July 22 Kuwaiti investment firm Arabi
Group Holding Co. said on Monday it had won a bid for
a 26 percent stake in Kuwait Health Assurance Co which was
auctioned by the country's sovereign wealth fund.
In a statement to the Kuwait bourse, Arabi Group said it had
been selected as the strategic partner and would begin steps to
establish the company, which is being set up to privatise
expatriate health insurance and associated medical care.
Larger companies Agility, a logistics group, and
investment firm Kuwait Projects Co were also bidders.
Kuwait Investment Authority, the country's wealth fund, set
the conditions for the sale and launched the bidding process in
(Reporting by Sylvia Westall; Editing by David Cowell)