REG - Kuwait Projects Co - Supplementary Disclosure-Burgan acquisition of UGB

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16/01/2025 11:45

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RNS Number : 6209T  Kuwait Projects Company Sukuk Ltd  16 January 2025

 

Kuwait Projects Company Sukuk Limited

 

Supplementary Disclosure regarding Burgan Bank's acquisition of United Gulf
Bank

 

Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), the Obligor of Kuwait
Projects Company Sukuk Limited, announced that Burgan Bank K.P.S.C. (a
subsidiary of KIPCO Group) has signed a Share Purchase Agreement with United
Gulf Holding B.S.C. (a subsidiary of KIPCO Group) to acquire a 100% stake in
United Gulf Bank B.S.C.C., for a total consideration of US$190mn (KD59mn).

The transaction procedures are expected to be completed during first quarter
of 2025.

 

For further information, please contact:

Investors, Press and Media:

Eman Al-Awadhi

49(th) Floor

KIPCO Tower, Khaled Bin Al-Waleed St, Sharq

P.O. Box 23982

Safat 13100

Kuwait

Tel: +965 2294 3416

Email: eman.alawadhi@kipco.com

 

 

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