Kuwait Projects Holding (KIPCO) has increased its stake in OSN to 87.6% from 60.5% through participation in capital calls and an arbitration decision.

The Boursa Kuwait-listed firm expects the transaction to reflect positively on its financial statements.

Further details will be announced in due course, according to a bourse disclosure on Sunday.

Earlier this month, Standard and Poor's (S&P) maintained KIPCO’s long-term issue credit rating at ‘BBB-’ and the short-term issue credit rating at ‘A-3’.

 

Source: Mubasher

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