Kuwait-Mubasher: Al Mazaya Holding’s subsidiary sold a unit in Turkey to a sister company, for a value of 162 million Turkish lira or KWD 16.4 million ($54.2 million), according to a bourse statement.
The deal will generate a profit margin worth about KWD 1.18 million ($3.91million), of which Al Mazaya will hold KWD 66.100.The parent company said Wednesday its share from the profit margin will be registered in the company’s financials in the first quarter of 2016.
On the Kuwaiti stock market, Al Mazaya settled at 106 fils after about 512,300 shares were traded with a value of KWD 54,300. Meanwhile, the stock saw no trades in the Dubai market.
