Tuesday, Apr 17, 2012
BEIRUT (Zawya Dow Jones)--Kuwait's Industrial and Financial Investments Co., or IFIC, Tuesday said it has sold its 42.04% stake in Kuwait Qatar Insurance Co., or KQIC, for about 3.15 million Kuwaiti dinars ($11.33 million).
IFIC didn't name the buyer in a statement posted on the Kuwait bourse website. The company said in December that it was in talks with an unidentified investor who had offered to buy its stake.
KQIC had a paid-up capital of KWD5 million at the end of 2010, according to Zawya.com data.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
17-04-12 0955GMT
