Dec 13 2011 |
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Kuwait NIH Sells 1.5% Stake In German Firm; Makes EUR5.2M Profit
Tuesday, Dec 13, 2011
DUBAI (Zawya Dow Jones)--Kuwait-based investment firm National International Holding Co., or NIH , said Tuesday it sold 1.5% of its shareholding in German woodwork machinery maker Weinig International for EUR5.25 million.
NIH will make a profit of EUR5.2 million on the sale, which will reduce its stake in Weinig to 9.18% from 10.6% once the transaction is complete, the company said in a statement posted on the Dubai Financial Market , or DFM , website. NIH shares are listed on the DFM and Kuwait bourse.
NIH also said its investment in Weinig is worth 10 million Kuwaiti dinars ($36.1 million) at market value.
Copyright (c) 2011 Dow Jones & Co.
13-12-11 0627GMT
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