Mubasher: Kuwait Finance and Investment Company (KFIC) has completed the procedures required for the takeover of the Lake Calhoun Center building in the state of Minneapolis in the US.
KFIC said that its share in this investment stands at 35%, while the share of the company’s clients totals 65%, according to a bourse statement issued on Thursday.
The Kuwaiti firm clarified that the financial impact from sealing this acquisition deal will be a decrease of KWD 10.9 million in the group’s assets, as well as a decline of KWD 8.1 million in liabilities.
KFIC noted that the mother company will not be impacted by this takeover deal, the statement added.
At the stock level, KFIC closed Thursday’s session 5.32% lower at 44.5 fils.
