Kuwait-Mubasher: Tamdeen Investment has completed a merger with Tamdeen Holding after allocating 47.26 million shares for the latter’s shareholders in return for assuming assets and liabilities, a filing said on Monday.
The 47.26 million shares allocation was made through a capital hike of 16.78 million shares and an ownership transfer of 30.47 million treasury shares. Meanwhile, Tamdeen Investment assumed most of the assets and liabilities of Tamdeen Holding as part of the tie-up.
The financial impact will reflect on the company’s consolidated financial statements ending 31 December, 2015.
