Kuwait Financial Centre (Markaz) has announced that it had executed a voluntary acquisition offer worth KD64.12 million ($208.6 million) on behalf of Boodai Reliance Real Estate to increase its stake in Jazeera Airways.
Under the offer, Boodai Reliance acquired an additional 16.65% of Jazeera Airways’ issued share capital, purchasing 36.64 million shares at KD1.75 per share said Markaz in its statement.
Markaz acted as acquisition manager for the deal and said it was responsible for structuring and executing the transaction in compliance with Capital Markets Authority regulations and exchange requirements.
The VAO represents one of the notable strategic equity acquisitions in Kuwait’s capital markets and highlights Markaz’s proven capability in executing complex, high-value public-market transactions, said the statement.
It also highlights Markaz’s role in facilitating strategic stake-building for clients while navigating shareholder dynamics, market sensitivities, and regulatory requirements through disciplined execution across pricing, shareholder engagement, regulatory coordination, and settlement.
Following the deal, Boodai Reliance's total ownership in the Kuwaiti airline has risen to 72.26%.
On the transaction, Markaz CEO Ali Khalil said: "We are pleased to have successfully executed this high-profile transaction for Boodai Reliance Real Estate Company, strengthening its strategic position in Jazeera Airways. This accomplishment reflects our ability to navigate the complexities of capital markets, adhere to regulatory requirements, and protect the interests of shareholders while achieving our client’s investment objectives."
BoodaiCorp Group CEO Mishaal Al Usaimi said This strategic acquisition represents a significant step in consolidating the firm's long-term investment in Jazeera Airways.
"Our increased stake reflects our conviction in the company’s long-term fundamentals and growth trajectory. Executing a transaction of this scale in the public markets requires a partner that understands not only regulation, but also market dynamics and stakeholder expectations. Markaz provided the structure, clarity, and execution discipline needed to complete the process efficiently and responsibly, allowing us to advance our strategic objectives with confidence," he stated.
Markaz said the successful closing further reinforces its track record as a specialised acquisition manager and trusted wealth partner, while continuing to strengthen its investment banking and capital markets franchise in support of institutional, family office, and strategic investors seeking long-term value creation in listed companies.
"It is also a testament to the depth of expertise within our investment banking teams and further cements our position as a trusted partner for clients seeking to build and consolidate meaningful positions in Kuwait’s listed companies," stated Khalil.
Established in 1974, Markaz is one of the leading asset management and investment banking institutions in the Mena region with total assets under management of over KD1.52 billion ($4.98 billion) as of December 31, 2025.-TradeArabia News Service