The Competition Authority has made an announcement regarding the request made by Al Mustaqbal Investment Company (OTC code 375) and KFIC Investment Company. Al Mustaqbal Investment Company, a closed Kuwaiti shareholding company, is engaged in activities related to investing, owning, and holding shares, securities, rights, and assets in various sectors. KFIC Investment Company, on the other hand, is a Kuwaiti public shareholding company involved in investment, financing, asset management, and financial brokerage in different sectors.
The request put forth by these companies seeks approval to proceed with the economic concentration process by acquiring Al Mustaqbal Investment Company's 23.01% stake in KFIC Investment Company. This request is in accordance with Law No. (72) of 2020, which focuses on the protection of competition, and Article (83) of its Executive Regulations, as issued by Resolution No. (14) of 2021 and subsequent amendments. The article mentioned stipulates that interested parties have the right to submit reasoned objections to the application for economic concentration within a period of 15 days from the date of notification or publication.
 Considering this, the Competition Authority invites all interested parties to voice their objections to this proposed economic concentration within a maximum period of fifteen days, beginning from today, Sunday, October 15, 2023.