KUWAIT CITY, June 16: Kuwait Financial Centre “Markaz” announced the acquisition of a majority stake of 48.35% in Al Kout Industrial Projects (AIP) on behalf of its clients. The total number of shares is 42,648,675, with a total value of KD 16,419,739 million at KD 0.385 per share. The acquisition of Al Kout Industrial Projects Company (“Alkout”) was done through Markaz portfolios while meeting the deadline without any further extensions and despite challenging times where financing one’s operations has become increasingly difficult.

The beneficiaries are three clients, including two corporate clients, one of which is listed in the KSE, and the other client being an individual. Moreover, the deal was closed with a high degree of confidentiality. Markaz has a full-fledged investment banking division which is powered by a team of highly specialized and professional financial advisors. Mergers and acquisitions services range from investment advisory to legal due diligence. The team, which is renowned for both its agility and confidentiality, has executed mandates worth $1.7bn since 1997.