Kuwait International Bank to sell its total exposure to NMC

The bank announced it will sell its exposure, aggregating to $74.11mln, for $13.25mln

  

Kuwait International Bank (KIB) has announced it will sell its exposure to NMC Healthcare, which was placed into administration last year.

In a statement to Boursa Kuwait, the Kuwaiti lender said it would sell the exposure, aggregating to $74.11 million, for $13.25 million, subject to due diligence requirements. The buyer was not named in the bourse filing.

NMC was placed into administration in September 2020.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

(imogen.lillywhite@refinitiv.com)

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© ZAWYA 2021


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