REG - Kuwait ProjectCo SPC - Transaction between the KIPCO group companies

Kian ShenAnnouncement

11/12/2023 08:30

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RNS Number : 3138W  Kuwait Projects Co SPC Limited  11 December 2023

Kuwait Projects Co SPC Limited

 

Transaction between the Kuwait Projects Company (Holding) K.S.C.P. "KIPCO"
group companies

Kuwait Projects Company (Holding) K.S.C.P. (the Guarantor of Kuwait Projects
Co SPC Limited), announced that Al Rawabi United Holding Company (fully owned
subsidiary of "KIPCO"), has purchased 52% stake in Burgan Bank Turkey (BBT)
from Burgan Bank K.S.C.P.  (also, a subsidiary of "KIPCO") for a
consideration of KD 57.8 Mn. Accordingly, "KIPCO" Group's effective ownership
of BBT will increase from 61.6% to 81.5%.

There is no material impact on KIPCO's consolidated financial statements as
the transaction took place between subsidiaries of the group and the impact is
eliminated on consolidation.

 

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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