Middle East Economic Survey
KPC To Reduce Stake In Sanofi-Aventis
Kuwait Petroleum Corporation (KPC) announced on 6 September that it planned to sell a 2.8% stake in Sanofi-Aventis via a secondary offering to institutional investors. In July, KPC tendered its 13.5% stake in the French/German drugmaker Aventis (KPC was the biggest shareholder) to Frances Sanofi-Synthelabo, paving the way for the latters takeover bid to go ahead (MEES, 9 August). At present,...