Arab Finance: Egypt Kuwait Holding Company (EKH) has acquired an additional stake of 13.12% stake in Bawabet Al Kuwait Holding Company for $66.4 million, bringing its total stake in the latter to 84.79%, according to a statement filed to the EGX on March 20th.
The deal was executed under Boursa Kuwait’s rules of over-the-counter (OTC) trading system.
It is worth mentioning that Bawabet Al Kuwait owns 59.82% of Alexandria Fertilizers Company, hence, the deal raised EKH’s direct stake in Alexandria Fertilizers to 69.42% from 61.57%.