Wednesday, Apr 08, 2009
DUBAI (Zawya Dow Jones)--The Kuwait Projects Company, or Kipco, said Wednesday that Lebanese businessman Sheikh Bahaa Hariri has acquired a 5% stake in the company, making him Kipco's largest individual investor.
Kipco, which holds consolidated assets worth more than $19 billion across the Middle East and North Africa, mainly invests in the financial services and media sectors, the company said in an emailed statement.
The statement did not give a figure for the acquisition.
"We welcome Sheikh Bahaa Hariri as a major shareholder in Kipco... Our reputation as a company that builds and delivers shareholder value is attractive to experienced and successful investors such as Sheikh Bahaa," Kipco's Vice Chairman Faisal Al Ayyar, said.
-By Majdoline Hatoum, Dow Jones Newswires; +9714-3644964; majdoline.hatoum@dowjones.com
Copyright (c) 2009 Dow Jones & Co.
(END) Dow Jones Newswires
08-04-09 1001GMT
