Middle East Economic Survey

VOL. XLVIII

No 6

07-February-2005

KUWAIT

KPC To Sell Remaining Stake In Sanofi-Aventis Pharmaceutical Firm

Kuwait Petroleum Corporation (KPC) on 27 January announced its intention to sell its remaining 3.4% stake in the French pharmaceutical firm Sanofi-Aventis. In September 2004, KPC sold a 2.8% stake in the company to a group of institutional investors for more than 2bn (MEES, 13 September 2004). Its remaining stake is estimated to be worth around 2.7bn. KPC was the...