Mubasher: Boubyan Petrochemical Co. reached a settlement with the shareholders of Al Borg Medical Laboratories, with the latter paying a value of SAR 8.44 million (KWD 688,000) as cash compensation.
Boubyan Petrochemical will further hold an additional stake of 1.125% in Al Borg, bringing total ownership to 25.125%, according to a stock exchange statement on Sunday.
The transaction will generate a profit worth KWD 875,000 that will reflect on Boubyan’s financial statements for the fourth quarter (Q4) as of 30 April 2020.
