Mubasher: National Consumer Holding Company (NCHC) has received a letter of intent from Afkar Holding, a subsidiary of Gulf Investment House (GIH), to acquire Al Watania Paper Products Company (Waper).

NCHC owns 99% of Waper's share capita, with a value that amounts to KWD 1.1 million, according to a stock exchange statement on Sunday.

Further details regarding the proposed acquisition will be announced in due course in case an agreement is reached.

The announcement will have no material impact on NCHC in the present time.