SHUAA Capital, a financial services institution, confirmed the Kuwait Stock Exchange’s approval to sell its entire 48.69% stake in Al Kout Industrial Projects Company (AIP) to a group of Kuwaiti investors for more than $50 million.
SHUAA Capital bought the stake in AIP in 2006 and has since held the stake as part of its Principal Investments portfolio. AIP is a Kuwait-based chemicals business specializing in the production of Chlorine, Hydrochloric Acid, Caustic Soda and other related chemicals for a range of diverse applications from water treatment and food manufacture to oil drilling.
SHUAA is one of the 238 investment firms listed in the Middle East Investors Directory with the code OR49.
More details from their release follows
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