Mubasher: Boursa Kuwait announced that Boubyan Petrochemical has completed its acquisition of an equity in Al Kout Industrial Projects, according to a bourse disclosure on Tuesday.

Boubyan has acquired 7.25 million shares or 7.182% of Al Kout’s capital.

The takeover was executed for 766 fils per share at a total of KWD 5.55 million ($18.3 million).

It is noteworthy that Boubyan has a current stake of 46.5% in Al Kout as registered on 19 April.

Al Kout has a capital of KWD 10.09 million distributed on 100.9 million shares at a nominal value of 100 fils each.