Kuwait’s Aayan Leasing, Mubarrad exit $4m stakes in Omani firms

Mubasher: Aayan Leasing and Investment announced that it made an agreement with Mubarrad Holding Co to sell their stakes in three Omani companies.

The assets are valued at KWD 3.9 million ($12.9 million) and are considered part of selling Aayan Leasing’s shares in Insha'a Holding back in March 2017, according to a bourse statement on Sunday.

Aayan Leasing clarified that its direct share in this transaction totals KWD 2.9 million, while the realised profits total KWD 1.2 million.

The financial impact of selling this equity will be registered in the income statements of Aayan leasing during the third quarter of 2018.

In a separate disclosure, Mubarrad noted that the financial impact of selling this equity will be a profit of KWD 337,000 that will be realised in Q3-18 income statements.

Mubasher Contribution Time: 12-Aug-2018 13:50 (GMT)
Mubasher Last Update Time: 12-Aug-2018 14:21 (GMT)

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