Kuwait Stock Exchange (KSE) announces that Kuwaiti China Investment Co. (KCIC), along with a consortium of investors, acquired 98.2% of the Philippines-based Atlantic Gulf Pacific (AGP) for PHP 1.75 billion ($39.7 million). KCIC accounted for 25% of this consortium.

AGP is one of the oldest and most experienced engineering and construction companies in Asia. It has a pioneering position in steel and construction unit manufacturing. AGP is divided into two basic segments; heavy materials and overseas labor force. The Philippines company’s clients include:

- Aramco Overseas Corporation (K.S.A.),
- Kawasaki Heavy Industries, Ltd. (Japan),
- Kellogg Brown & Root (KBR) (U.S.),
- Krupp Industrietechnik GmbH (Germany)
- Mitsubishi Heavy Industries, Ltd. (Japan),
- Esso Production Malaysia, Inc.,
- Hitachi Works, (Japan),
- Technip (France)