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FINANCIAL NEWS
Galfar to buy 26% of Kuwaiti firm
03 Jun 2010
(MENAFN) Oman’s Galfar Engineering & Contracting Company said that it had sealed a deal to buy a 26 percent stake in Shaheen Al Ghanim Roads & Bridges Contracting Company of Kuwait, Reuters reported.
The stake constitutes 52 million shares in the Kuwaiti company worth $13.9 million, a Galfar statement said.
This acquisition is helping Galfar to extend its operations in the growing infrastructure business in Kuwait, the statement added.
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