Boursa Kuwait sees $1.2bn M&A deals in Q1

Boursa Kuwait sees $1.2bn M&A deals in Q1
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NAPESCO NAPESCO 2.00% 1,560.00 35.00
Yiaco YIACO 1.00% 180.00 1.00
KFIN KFIN 2.00% 541.00 13.00
ALQURAIN ALQURAIN 4.00% 350.00 14.00
ABAR ABAR 0.00% 89.00 0.00
ALOLA ALOLA 1.00% 48.00 1.00
Americana FOOD 0.00% 2,100.00 0.00

By: Eman Ghaly

Mubasher: The first quarter of 2017 saw 13 merger and acquisition (M&A) deals executed at Boursa Kuwait, with a total value of KWD 366.23 million ($1.2 billion).

These M&A deals included Adeptio AD Investments SPC’s compulsory acquisition of Kuwait Food – Americana for a total value of KWD 283.74 million. 

Following a series of negotiations that lasted from December 2016 to April 2017, Qurain Petrochemical Industries purchased the entire 26.82 million shares of National Petroleum Services (Napesco), at a total value of KWD 21.46 million.

Qurain also purchased a 58.76% stake in Inshaa Holding, with a total value of KWD 8.08 million.

On 5 January, Kuwait Finance House (KFH) raised its stake in Al Salam International Hospital to 76.1% by purchasing Yiaco Medical’s stake for KWD 20 million.

In mid-February, First Investment raised its stake in Burgan Drilling to 14.666% from 11.7%.

On 19 February, Zain Group entered a joint investment with iflix company to establish a commercial entity, iflix Arabia, in which Zain will own a 33% stake for KWD 3 million.

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Source: Mubasher Exclusive

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