27 June 2007
Investment Dar Company announced the sale of its stake in Al Madar Finance and Investment Company yesterday.

The sale was conducted by auction at the Kuwait Stock Exchange and run by Merrill Lynch, the first time an global institution managed such a transaction in Kuwait.

The bid process for Al Madar commenced on June 18 and was completed at 10am yesterday. The auction was won by Stehwaz Holding Company, which acquired 220,260,030 shares.

© Emirates Today 2007