Kuwait-Mubasher: National Investments Company (NIC) has decided not to go through with the voluntary acquisition offered by Boubyan Petrochemical to purchase the entire shares of Nafais Holding, according to a statement on Tuesday.
The procedures of the takeover, priced at 142 fils per share and previously considered unfair by Nafais, are now scrapped by the Kuwaiti investment house NIC which cited that a new bidder emerged with a one fils per share stronger offer. The higher bidder is Gulf Friends Real Estate Company.
