Kuwait-listed National Real Estate Company’s subsidiary is offloading its stake in Malta’s Mediterranean Investments Holding (MIH).

The real estate investment and development firm said on Monday that its unit, Kuwaiti National Investment Holding, has signed a share sale agreement to sell its entire 50% shareholding in MIH to two buyers for EUR 74 million ($87 million).

The 25% stake will go to International Hotel Investments (IHI), while the rest of the shares will go to existing shareholder Corinthia Group Companies CPHCL Company Limited.

The subsidiary will receive a 10% advance payment, with the 90% balance payable upon completion of the transaction, which is expected no later than June 30, 2026. 

The deal will make CPHCL the majority shareholder with a total of 75% stake in MIH.

(Writing by Cleofe Maceda; editing by Seban Scaria) Seban.scaria@lseg.com