Mubasher: The Kuwaiti Capital Market Authority (CMA) has rejected the merger between Ream Real Estate Co and International Resorts Company (IRC).
The new combined entity, Resorts Holding, will write to the state-run regulator CMA to obtain the approval, Ream said in a statement to Boursa Kuwait.
By the end of August 2018, Ream announced reaching an initial agreement with IRC to implement a merger.
Both of Ream Real Estate Co and IRC are listed on Boursa Kuwait.
