Kuwait Projects Co SPC Limited Disclosure for transaction with related party (8676W)
14 Dezember 2023 - 1:14PM
UK Regulatory
TIDM61DH
RNS Number : 8676W
Kuwait Projects Co SPC Limited
14 December 2023
Kuwait Projects Co SPC Limited
Disclosure regarding a transaction with a related party
Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), the
Guarantor of Kuwait Projects Co SPC Limited, announced that it has
signed a SPA agreement with a subsidiary, the National Petroleum
Services Company K.S.C.P. "Napesco" (KIPCO Group Subsidiary with an
ownership of 60.53%) in order to sell its full equity stake
totaling 52.92% of the issued and paid-up capital of its subsidiary
United Petroleum Projects Company K.S.C.C for a total consideration
of KD 15,029,920.
There is no material financial impact on KIPCO's consolidated
financial statements, as the sale and purchase transaction took
place between the parent and a subsidiary, and the impact will be
eliminated on consolidation.
For further information, please contact:
Investors, Press and Media:
Eman Al-Awadhi
49(th) 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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