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URC, ADHC, and UTHC Complete Landmark US$ 2.1 Billion Merger

United Real Estate Company K.S.C.P. (URC), a premier real estate developer in Kuwait and the MENA region, today completed the successful groundbreaking merger, assessed at US$ 2.1 billion, with Al Dhiyafa Holding Company K.S.C.C. (ADHC) and United Towers Holding Company K.S.C.C. (UTHC). 

This merger, a pioneering achievement in Kuwait, marks the first merger of three separate entities in the country and signifies a major consolidation in the regional real estate sector.

Post-merger, URC’s total assets have surged to an impressive US$ 2.1 billion. Former shareholders of ADHC and UTHC will now trade their shares on Boursa Kuwait under the ticker ‘URC’.

Kamco Investment Company K.S.C.P. served as the transaction manager and advisor, playing a pivotal role in the strategic planning and execution of the merger. 

Al-Hossam Legal, in its role as exclusive legal counsel, was instrumental in navigating the complex legal landscape, ensuring the seamless amalgamation of URC, as a public entity listed on Boursa Kuwait, with ADHC and UTHC, as private companies. The firm expertly addressed various challenges, including minority shareholder rights, cross-border tax regulations, anti-trust laws, and regulatory approvals, alongside intricate employment and shareholder concerns.

This merger not only marks a significant milestone for URC but also sets a precedent for future corporate mergers in Kuwait.

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