Mubasher: Gulf Investment House (GIH) on Tuesday announced that it appropriated 1.16 million shares in GFH Financial Group in exchange for its property in the Navi Mumbai Power City project.
This deal would record KWD 39,860 in profits in the third quarter of 2017, GIH said in a filing to Boursa Kuwait.
National Investment Company (NIC) had announced on Monday that it would acquire 12.85 million shares in GFH in exchange for its share in the same project.
Earlier, Ajial Real Estate Entertainment had agreed to an offer to exit from Navi Mumbai and Bab Al Maghreb in exchange for stocks in GFH.
