Arab Finance: Egyptian Kuwaiti Holding (EKH) penned a binding agreement with a Kuwaiti firm to buy its 9.45% stake in Bawabet Al Kuwait Holding Company in a deal worth $47.5 million, as per disclosure on October 29th.
After the transaction, EKH will own 94.34% of Bawabet Al Kuwait, up from 84.89%.
Egyptian Kuwaiti Holding is an Egypt-based investment company with a diversified portfolio of investments in sectors, including fertilizers and petrochemicals, energy, insurance, manufacturing, information technology, transport, and infrastructure.