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Danah Al Safat receives $3.3m in Lebanon’s F&B Venture deal

Danah Al Safat receives $3.3m in Lebanon’s F&B Venture deal
This instalment is worth $3.323 million or about KWD 994,730
DANAH
DANAH
0.00% 11.80 0.00

Mubasher: Danah Al Safat Foodstuff announced that it has received the last instalment from selling its stake in F&B Venture Holding – Lebanon.

This instalment is worth $3.323 million or about KWD 994,730, according to a bourse statement on Sunday.

The financial impact will be registering KWD 1.36 million expenses in the income statements for fiscal year 2017.

In mid-October, Danah Al Safat has transferred its stake in F&B Venture to Al Miqat Incorporation.

At the stock level, Danah Al Safat closed Sunday’s session 1.21% lower at 73.6 fils.