Mubasher: Investment Holding Group on Thursday announced that its board has approved the acquisition of a 39.6% stake in Consolidated Engineering Systems Company (CESCO).

In April, Investment Holding announced its intentions to buy the rest of CESCO’s stake.

It is worth noting that Investment Holding’s stake in CESCO is 60.40%, according to the company’s recent statement.

After receiving all the required approvals, Investment Holding noted that it will hold an extraordinary general meeting (EGM) to complete the acquisition process.

By 11:54 am Qatar time, Investment Holding’s stock declined 0.36% to QAR 5.50.