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Kuwait’s Aref Energy Says Offer to Purchase Company Is Fair

The board of Aref Energy Holding KSCC (AREFENRG) said an offer by Development Enterprises Holding, a unit of Kuwait Finance House (KFIN), to acquire its shares for 134 fils each is “fair and appropriate.”

Aref Energy, part of Aref Investment Group, hired a consultant to assess the offer and received regulatory approval from the Capital Markets Authority, said Aref in a statement posted today on the Kuwait Stock Exchange website.

To contact the reporter on this story: Dahlia Kholaif in Kuwait at dkholaif@bloomberg.net

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

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