Mubasher: National Industries Group Holding announced that a 100%-owned subsidiary has signed a contract with its shareholders in Airport International Group (AIG), which administrates and operates Queen Alia International Airport (QAIA).
National Industries, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), intends to sell its entire 24% equity in AIG, according to a bourse filing on Sunday.
The final agreement was sealed with the French Groupe ADP-led consortium.
Following this deal, National Industries will get a share estimated at $147.6 million or KWD 44.43 million. The financial impact will be a profit of KWD 15.9 million which will be realised in National Industries’ income statements for fiscal year 2017.
