Kuwait – Mubasher: Al-Safat Energy Holding Co. said Sunday it is continuing with negotiations for a divestiture from an investment.
Al-Safat’s statement came in reaction to news leaked out by a local gazette about a possible exit by the company.
The company added, in a bourse filing, that the potential buyer has not submitted a buy offer officially.
A local newspaper earlier today cited a well informed source as saying Al-Safat has a possible divestiture worth around $16.5 million, with expected net profit of around $1.2 million.
