Gulf Franchising buys KWD 7m assets

Mubasher: Gulf Franchising Holding announced that its board members approved purchasing restaurants and companies at a combined value of KWD 7.07 million.

The Kuwaiti firm will pay for these assets as KWD 3.05 million in cash, while the remaining amount will be financed through a loan, according to a bourse statement on Monday.

Gulf Franchising’s board members were authorised to acquire credit facilities including loans or external financing to pay the remaining KWD 4.025 million of this deal.

Purchasing these assets will boost Gulf Franchising’s financial position in addition to achieving a higher revenue.

Mubasher Contribution Time: 10-Sep-2018 13:26 (GMT)
Mubasher Last Update Time: 10-Sep-2018 14:14 (GMT)