(Corrects spelling of Kuwaiti European Holding Group in first
Sept 20 WH Ireland Group Plc said on
Tuesday Kuwaiti European Holding Group (KEH) and related parties
had bought a 23.1 percent stake in the company, amid media
speculation that KEH may be positioning itself to buy out the
WH Ireland, which offers private wealth management, wealth
planning and corporate broking services, said it would work with
KEH Group to accelerate its growth opportunities.
"KEH Group has an exciting plan for growth within its
existing financial services companies in the Gulf states and the
UK," WH Ireland Chief Executive Richard Killingbeck said.
WH Ireland expects to be able to help support this growth,
KEH is an investment company focused on property, health and
WH Ireland's regulatory filing did not disclose from whom
KEH bought the stake.
The news follows a Sky News report on Saturday that KEH
Group was close to announcing a deal to buy a stake in WH
Ireland, and may also consider acquiring the London-listed
company entirely. bit.ly/2cWGKPN
WH Ireland held 2.7 billion pounds ($3.52 billion) in assets
under management as of May 31.
($1 = 0.7670 pounds)
(Reporting by Esha Vaish in Bengaluru; Editing by Gopakumar