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Al Khair, Liberty House in talks on Gulf Cement’s stake

Al Khair, Liberty House in talks on Gulf Cement’s stake
Gulf Cement’s capital stands at AED 821.1 million
NINV
NINV
-1.49% 265.00 -4.00
Gulf Cement
GCEM
0.00% 0.41 0.00

Mubasher: Al Khair National for Stocks and Real Estate Co. is in negotiations with the UK-headquartered company Liberty House Group, a possible purchaser that would buy Al Khair’s entire stake in Gulf Cement Co.

Al Khair intends to sell its consolidated 37.81% equity in Gulf Cement, which is a UAE firm listed on both Boursa Kuwait and the Abu Dhabi Securities (ADX), according to a bourse statement on Sunday.

The standalone stake of Al Khair in Gulf Cement totals 278.23 million shares or 33.89% of Gulf Cement’s capital.

The selling transaction will be executed through the investment portfolio which is owned by National Investments Co.

Gulf Cement’s capital stands at AED 821.1 million in which Al Khair owns the largest stake.