Kuwait-Mubasher: Al Deera Holding, listed in Kuwait Stock Exchange, announced that its subsidiary company, Al Deera International Communications, has sold its full ownership in an associate company at a value of KWD 1.32 million, according to bourse statement.

The company added that this sale will have a negative effect on the financial statements of Q2-16, as it will record KWD 1.87 million losses.

In May, Al Deera announced signing a primary agreement for refinancing a consolidated loan worth KWD 17.1 million ($56.7 million).