Mubasher: National Drilling Co said that the shareholders approved the completion of selling their entire shares to a board member, Ahmad Rashad Muhammad, at a price of $8.335 per share.

The Egyptian company said that the legal procedures required for the acquisition are being taken, except for the purchase proposal.

In September, 2016, the Kuwaiti company Senergy Holding signed the final contract for selling its 60% stake in National Drilling for KWD 3.35 million.