Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) said on Monday that its board members have considered the mandatory acquisition proposal put forward by Al Thekair General Trading & Contracting to buy the remaining 25.67% of its shares.

Al Thekair’s bid for KMEFIC’s per-share price was 59 fils, slightly lower than the price suggested by Baker Tilly Consulting, which acted as an independent advisor and valued the price of each share at 60 fils, the company announced in a bourse statement.

Baker Tilly’s recommendation is not still binding for shareholders, KMEFIC said.

Last September, Al Thekair’s affirmed its commitment to put forward a mandatory bid to purchase the remaining KMEFIC’s shares, after acquiring 74.33% of the latter’s capital, for KWD 26.382 million.