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Al Masaken International to exit unit for Acico

Al Masaken International to exit unit for Acico
Photo Credit: Arabianeye-Reuters
MASAKEN
MASAKEN`R
1.42% 42.90 0.60
ACICO
ACICO`R
507.39% 345.00 288.20

Kuwait-Mubasher: Al Masaken International Real Estate Development has agreed on selling its entire stake in Al Masaken United Real Estate to Acico Group for KWD 9 million, according to a bourse statement.

Al Masaken International owns 43% in Al Masaken United which is an unlisted closed company.

The company noted, in its statement on Monday, that the sale deal will provide it with cash liquidity.