Boodai Real Estate Boosts Stake in Jazeera Airways with 64.12 Million Dinar Takeover Bid

Kuwait Financial Centre (Markaz) announced the successful completion of a voluntary takeover bid valued at 64.12 million dinars on behalf of Boodai Real Estate Company, enabling the company to increase its ownership stake in Jazeera Airways.

Acting as acquisition manager, Markaz oversaw the transaction through which Boodai Real Estate acquired an additional 16.65 percent of Jazeera Airways’ issued share capital. The deal involved the purchase of approximately 36.64 million shares at a price of 1.750 dinars per share.

Following completion of the offer, Boodai Real Estate’s ownership in the airline rose to 72.26 percent, reinforcing its long-term strategic position in one of Kuwait’s leading aviation companies, reports Al-Anba daily.

Strategic Expansion

Commenting on the transaction, Markaz Chief Executive Officer Ali Khalil said the successful execution demonstrates the firm’s ability to manage complex capital market transactions while ensuring regulatory compliance and protecting shareholder interests. He noted that the deal highlights the expertise of Markaz’s investment banking teams and strengthens the company’s position as a trusted partner for clients seeking to build or consolidate significant holdings in companies listed on the Kuwaiti market.

Confidence in Growth Prospects

For his part, Boodai Group CEO Meshal Al-Osaimi described the acquisition as a major step in strengthening the group’s long-term investment strategy in Jazeera Airways. “Increasing our stake reflects our confidence in the company’s fundamentals and future growth prospects,” he said, adding that executing a transaction of this scale required deep understanding of regulatory frameworks, market dynamics, and stakeholder expectations. Al-Osaimi praised Markaz for providing the structural and executional discipline needed to complete the process efficiently, enabling the group to advance its strategic objectives with confidence.

Regulatory Compliance and Execution

As acquisition manager, Markaz was responsible for structuring, coordinating, and executing the takeover bid from inception to completion, ensuring compliance with requirements set by Kuwait’s capital market regulators and relevant authorities. The successful completion of the transaction further strengthens Markaz’s track record in managing acquisitions and reinforces its role as a specialized investment banking and wealth management partner in Kuwait’s financial sector.