Middle East Economic Survey
VOL. XLVIII
No 51
19-December-2005
KUWAIT
Kuwait Completes GlobalSantaFe Shares Sale, Cuts Stake In BP
Kuwait Petroleum Corporation (KPC) said in a statement published on 15 December that it had sold its remaining 29mn shares in GlobalSantaFe for $48.85 a share. Last April it sold 23.5mn shares back to GlobalSantaFe, reducing its stake in the company from 18.2% to around 8.5% (MEES, 18 April). KPC began the sale of shares in 2000 (MEES, 12 June 2000).
On 9 December, the...
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