Mubasher: Kuwait Finance and Investment (KFIC) has sealed an agreement with a leading company in the retail industry in Kuwait to acquire a client’s portfolio in instalments.
The takeover deal is valued at KWD 1.5 million ($5 million), with an expected return ranging from 12% to 13% on an annual basis, according to a bourse statement on Wednesday.
KFIC projected a revenue of KWD 275,000 during the three-year acquisition contract.
