Oct 17 2007 |
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Kuwait: KAMCO willing to sell United Industries stake
KUWAIT: Kuwaiti fund manager KIPCO Asset Management Co (KAMCO) is willing to sell its stake in industrial conglomerate United Industries Co , a newspaper quoted a company official as saying. "We haven't received an offer yet but we would welcome any offers or alliances in this regard," Zaid Al-Naqeeb, Assistant General Manager at KAMCO 's asset management division told Al-Watan newspaper.KAMCO is a unit of Kuwait Projects Co (KIPCO). Shares in United Industries rose 1.3 percent after the comments before closing 2.63 percent lower. According to the bourse Web site, KAMCO holds 43.54 percent in United Industries .
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