Mubasher: Qurain Petrochemical Industries on Monday signed an agreement to purchase a 58.76% stake in a subsidiary of Aayan Leasing and Investment, according to a recent bourse filing.
Qurain has bought the stake in the unit, Inshaa Holding, for KWD 8.08 million.
The company clarified that this acquisition deal will generate an increase - of the same value of the deal - in assets and liabilities, as well as listing Inshaa Holding as a subsidiary of Qurain.
The listing of Qurain’s share in Inshaa’s financial statements will start in fiscal year 2017/2018, the statement noted.
