Tuesday, Sep 18, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Al Kout Industrial Projects Co. (ALKOUT.KW), or AIP, Tuesday said it has acquired an additional stake in the local Al-Dorra for Petroleum Services Co. for 3 million Kuwaiti dinars ($10.7 million) boosting its direct and indirect interest in it to 34.38% from 22.92%.
AIP said in a statement posted on the Kuwait bourse website that the acquisition was made through its Bahraini unit Al Kout Industrial Projects Holding Co. which bought 40 million shares in Al-Dorra at 75 Kuwaiti fils each.
AIP manufactures chlorine, caustic soda, and other chemicals while Al-Dorra provides services and supplies to the natural gas and petroleum industries.
-Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
18-09-12 0919GMT
