NO. 21


Financial and Banking News

Capital Markets

Kuwait Government Sells 52% Stake In Local Property Firm

The Kuwait Investment Authority (KIA), the investment arm of the country'sMinistry of Finance, has sold a 52% share in the local United Real EstateCompany to the Kuwait Investment Projects Company (Kipco), a private sectorinvestment firm. Kipco has agreed to resell 57% of this (representing 30% ofthe real estate company) to the private sector at a 7% discount. The...