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May 22 2007

Kuwait: United Industries buys 30.5% of Sadafco

KUWAIT: Kuwait's United Industries Co said yesterday it had bought 30.5 percent of Saudi dairy firm Sadafco for KD35.9 million ($124.7 million) from United Fisheries of Kuwait.

Fisheries made a profit of KD10.2 million from the sale of the 9.9 million-share stake it holds in the Saudi firm, said a statement posted on the Kuwait bourse website.

© Kuwait Times 2007

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