Kuwait – Mubasher: Danah Al Safat Foodstuff has sold its stake in F&B Venture Holding, according to a filing to Boursa Kuwait on Thursday.
The financial impact of the transaction is the same as announced at the end of March, namely a loss of KWD 1.83 million from the trademark, which has been included in the company’s financial statements for 2016.
In March 2017, the board had initially approved a submitted buying offer worth $85 million.
In May, Danah’s shareholders approved selling the company’s 100% stake in F&B Venture Holding.
