Kuwait-Mubasher: Al Madar Finance and Investment has acquired 28.5 million shares of Al Madar Real Estate Development, in return for waiving some real estate investments, according to a bourse statement.

The announcement, which was requested by Kuwait’s Capital Markets Authority, reveals that no financial impact will reflect on the company’s registries.

In mid-December, Al Madar said it reached an agreement to obtain an additional %40.72 stake in the subsidiary.