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.
-By Nour Malas, Dow Jones Newswires, +9714 4461689; nour.malas@dowjones.com
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(END) Dow Jones Newswires
13-12-11 0627GMT
