VOL. XLVII
No 09
01-March-2004
KUWAIT
REGIONAL BANKING
KIPCO Swaps BKME Stake For Shares In National Mobile Telecom Company
Kuwait Projects Company (KIPCO) on 22 February swapped its 28.7% stake in Bank of Kuwait and the Middle East (BKME) in exchange for Kuwaiti investor Mahmud Haydars share in National Mobile Telecom Company (Wataniya) in a deal valued at KD142mn ($483mn). As part of the deal KIPCO needed to buy more than the 9% share of Wataniya held by Mr Haydar and other investors. The 42.5mn...
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