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Kuwait-Mubasher: Gulf Bank of Kuwait (GBK) announced buying three land plots, totalling KWD 8.69 million ($27 million), at an auction held on Wednesday.
The Kuwaiti bank said in a bourse statement that the auction was part of a debt settlement agreement with a defaulting client.
It added that the financial impact will be determined after the entire debts settlement process is completed.
Source:
Mubasher