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05 Oct

Noor Financial subsidiary acquires stake in UAE firm


Noor Financial Investment said that its 53.7%-owned subsidiary, Noor Salhiya Real Estate Co, has purchased 50% stake in a real estate company in the UAE.

The acquisition value stands at KWD 1.1 million ($3.65 million), according to a bourse statement issued on Wednesday.

The statement noted that following the purchase of this stake, Noor’s ownership in the acquired company accounts for 99.9%.

In an early statement, Noor announced that the active trading registered on Tuesday was not backed by any developments in the company’s position.

Source: Mubasher


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