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...
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