Kuwait – Mubasher: Qurain Petrochemical Industries received the Capital Markets Authority’s (CMA) approval for executing the compulsory acquisition of the stake in National Petroleum Services (Napesco).
The number of shares included in the acquisition process totalled 2.722 million representing 4.73% of the overall issued shares, according to a bourse statement issued Wednesday.
Qurain clarified that the financial impact from the takeover deal will be determined based on the company’s financial position once Napesco discloses its audited financial statement starting from the fourth quarter of 2016.
