Kuwait Finance House Unit Acquires 67% of Aref Energy
Development Enterprises Holding, a unit of Kuwait Finance House (KFIN), completed the acquisition of 66.8 percent of Aref Energy Holding (AREFENRG) KSCC, according to a statement to the Kuwait Stock Exchange today.
Development Enterprises purchased 500.7 million shares at 134 fils per share, valuing the acquisition at 67.1 million dinars ($238 million), the company said. Aref Energy is a unit of Aref Investment Group.
To contact the reporter on this story: Fiona MacDonald in Kuwait at email@example.com
To contact the editor responsible for this story: Shaji Mathew in Dubai at firstname.lastname@example.org