Mubasher: The board of Educational Holding Group said that the offer proposed by Boubyan Petrochemical regarding the compulsory acquisition on Educational’s shares is considered fair.
Boubyan Petrochemical has offered 308 fils per share, according to a bourse statement issued on Thursday.
The board members of Educational said that the recommendation and result of studying this offer are non-binding to shareholders, and that the resolution of selling the shares is determined by only the shareholders of the group.
Late September, the Capital Markets Authority (CMA) has approved the compulsory acquisition offer from Boubyan Petrochemical to purchase the remaining 46.2% shares in Educational.
On 21 May, Boubyan Petrochemical has purchased a 53.34% stake in Educational for KWD 39.25 million.
