Deals
Kuwait Seeks Bids for 35% Stake in Unprofitable National Carrier
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Kuwait is seeking bids to sell 35 percent of Kuwait Airways Corp. as the OPEC oil producer searches for strategic investors to return the national flag carrier to profit.
“All identified assets, liabilities, rights and benefits” of Kuwait Airways Corp. will be transferred to a new company called Kuwait Airways Co. KSC, the Privatization Committee said in an e-mailed statement today. Joint-stock companies listed on the Kuwait Stock Exchange and specialized global companies can subscribe to 35 percent of the share capital valued at 220 million dinars ($804 million), it said.