Mubasher: Arkan Al Kuwait Real Estate Company has submitted a preliminary proposal to acquire 51% stake in a closed unlisted joint-stock real estate company.
The financial impact of the acquisition proposal cannot be determined, Arkan said in a bourse statement released on Wednesday.
Arkan Real Estate’s profits hiked by 32% year-on-year during the third quarter ended on 31 July 2019, recording KWD 335,680 ($1.11 million).
