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IFA’s Kuwaiti arm receives stake purchase offer in Turkish firm

IFA’s Kuwaiti arm receives stake purchase offer in Turkish firm
The offer is subject to related due diligence procedures
IFA
IFA
0.93% 327.00 3.00
FTI
FTI
0.00% 154.00 0.00

Mubasher: First Takaful Insurance, a subsidiary of International Financial Advisors (IFA), on Thursday announced that one of its consultants in Turkey has received an offer to buy its 35% stake in Neova Sigorta in Turkey.

The offer is subject to related due diligence procedures, First Takaful highlighted in a statement to Boursa Kuwait.

The company indicated that this offer currently has no financial impact until the final sale agreement is signed after setting the sale price.

IFA, listed on Boursa Kuwait and the Dubai Financial Market (DFM), holds nearly 91% of Fist Takaful’s capital of KWD 10.7 million.