Arabi to buy 26% of win Kuwait Health Assurance

(MENAFN) Kuwaiti investment firm Arabi Group Holding Co has won the race to buy a 26 percent stake in Kuwait Health Assurance Co, Reuters reported. The shares were auctioned in April by the country's sovereign wealth fund, Kuwait Investment Authority (KIA). Arabi Group said in a statement that it had been selected as the strategic partner and would begin steps to establish the company, which is being set up to privatize expatriate health insurance and associated medical care. Larger companies Agility, a logistics group, and investment firm Kuwait Projects Co were also bidders.