Mubasher: United Real Estate announced that its 100%-owned subsidiary United Real Estate – Jordan has completed all the procedures required for purchasing the entire shares of Abdali Mall Co in Jordan.
Following this acquisition, Abdali Mall Co has become a fully-owned subsidiary of the Kuwaiti company United Real estate, according to a bourse statement on Sunday.
The financial impact of this takeover transaction will reflect on the income statements of the fourth quarter that ends on 31 December 2018.
In early August, United Real Estate said that its subsidiary in Jordan has signed an agreement to purchase 61.38 million shares in Abdali Mall Co in Jordan.
