Mubasher: Boubyan Petrochemical announced the acquisition of 20.63% equity in Eyas for Higher and Technical Education to raise its stake, direct and indirect, to become 55.12%.
The Boursa Kuwait-listed company noted that the total transactions value stood at KWD 15.24 million, according to a bourse statement on Monday.
Raising Boubyan’s stake in Eyas will impact the classification of Eyas as a subsidiary, while its financial statements will be consolidated with Boubyan Petrochemical’s starting from the first quarter that will end on 31 July 2018.
