Mubasher: KAMCO Investment has sold a controlling stake in a building in the United States that is rented to Abbott Laboratories, according to a bourse statement disclosed on Thursday.
This exit deal will influence KAMCO’s consolidated income statements; assets are expected to decrease by $63 million, while liabilities are forecast to shrink by $63 million.
KAMCO said it would disclose the financial impact from this exit deal, if it is essential, in a follow-up statement.
The Boursa Kuwait-listed company achieved a growth of 11.9% in profits to nearly KWD 996,680 in the first nine months of 2017 compared to around KWD 890,410 in the same period a year ago.
