Kuwait Projects Eyes Acquisitions in Middle East, North Africa

Kuwait Projects Co., the country’s biggest privately owned investment company, is eyeing acquisitions in the Middle East and North Africa, Chief Financial Officer Pinak Maitra said.

“We’re always looking at acquisitions, if the price is right, we’d do something,” Maitra said in an interview today in Dubai. “We deal in financial services, media, technology, industrial and real estate, so it would be in one of those sectors.”

Kipco, as the company is known, has holdings in more than 60 companies and conducts business in 26 countries. The company repaid its $350 million five-year bond on April 12 and it doesn’t have any immediate financing needs and plans to pay all outstanding debt on time, Maitra said.

The company may sell bonds “if spreads get tighter,” he said.

To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net.

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net.

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