BusinessKuwaitOther News

Bader Al-Kharafi acquires 29% of Gulf Cable Co worth $500m

KUWAIT: Al-Khair National Group (Al-Kharafi Group) announced accepting a proposal by Al-Khair International Stocks Company (Bader Nasser Al-Kharafi) to purchase 29 percent of Gulf Cable Company’s shares at a book value of around $500 million.

A press release issued by Al-Khair National Group explained the sale process will be conducted according to Capital Markets Authority and Boursa Kuwait regulations.

Notably, as part of its new strategy to deal with local and international economic changes, Al-Khair International Company, owned by Bader Nasser Al-Kharafi, recently made a number of substantial acquisitions and purchased shares in operational companies listed on the stock exchange.

Back to top button