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Wethaq divests Egypt’s unit for $4.3m

Wethaq divests Egypt’s unit for $4.3m
Photo Credit: Arabianeye-Reuters
WETHAQ
WETHAQ`R
191.34% 111.00 72.90

Kuwait-Mubasher: Wethaq Takaful Insurance’s board gave the go-ahead on Monday to sell its stake in Wethaq - Egypt for KWD 1.3 million ($4.3 million) in interest of an unknown buyer, said a statement issued Tuesday.

The company incurred losses worth KWD 293,710 following the sale, according to the unaudited financial statement issued by Wethaq - Egypt.