Mubasher: IFA Hotels and Resorts has completed a deal on selling an investment owned by it in Yotel UK Holding Company.

The deal is valued at KWD 949,173, IFA Hotels disclosed to Boursa Kuwait on Monday.

The said selling will result in losses worth of KWD 494,075 that will reflect on the financial statements of the third quarter of 2019.

It is worth pointing out that during the first half of 2019, IFA Hotels suffered losses worth of KWD 3.91 million, 19% higher than KWD 3.29 million in the corresponding period in 2018.