RNS Number : 6209T
Kuwait Projects Company Sukuk Ltd
16 January 2025
 

 

Kuwait Projects Company Sukuk Limited

 

Supplementary Disclosure regarding Burgan Bank's acquisition of United Gulf Bank

 

Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), the Obligor of Kuwait Projects Company Sukuk Limited, announced that Burgan Bank K.P.S.C. (a subsidiary of KIPCO Group) has signed a Share Purchase Agreement with United Gulf Holding B.S.C. (a subsidiary of KIPCO Group) to acquire a 100% stake in United Gulf Bank B.S.C.C., for a total consideration of US$190mn (KD59mn).

The transaction procedures are expected to be completed during first quarter of 2025.

 

For further information, please contact:

Investors, Press and Media:

Eman Al-Awadhi

49th Floor

KIPCO Tower, Khaled Bin Al-Waleed St, Sharq

P.O. Box 23982

Safat 13100

Kuwait

Tel: +965 2294 3416

Email: eman.alawadhi@kipco.com

 

 

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