Mubasher: The board of directors of Kuwait-based Oula Fuel Marketing has approved a proposal for the acquisition of Kuwaiti car wash and vehicle detailing services company ProntoWash.

The board revealed that the financial impact of such approval would not appear until the conclusion of the deal, according to a bourse statement released on Thursday.

Oula’s board postponed its approval for the agency agreement with German cleaning technology company Kärcher.

The board approved the modification of Oula Fuel’s organisational structure, the statement added.