Mubasher: Zain Group announced it has transferred its entire ownership of the shares of Al Nahar Economic Consulting in the group’s favor, according to a bourse statement on Monday.
This transaction was executed through a subsidiary for a total value of KWD 200,000.
Following this transaction, Saudi Zain will be treated as a subsidiary of Zain Group and its financial results will be consolidated with the income statements of Zain Group starting from the third quarter of fiscal year 2018.
Zain added that the net income will not be impacted since Zain Group’s ownership in Saudi Zain will not change.
