27 Aug 2011
(MENAFN) Aref Energy, part of Kuwaiti investment company Aref Investment Group, Holding’s CEO, Tareq al-Wazzan, said that the company expects net returns to be no less than 8 percent of the estimated total exit value, which is USD138.9 million, during the current year, reported Bloomberg.
The CEO said that if the company successfully exits one of its matured projects, gains would be added to the fourth-quarter results. He mentioned that the company posted net income of about USD39.5 million last year
Al-Wazzan also said that Aref Energy signed a deal in March to acquire a 51 percent stake in Dubai’s Al Meshari Heavy Equipment Trading for USD3.5 million. It also holds a 25 percent stake in Synfuels International, which operates in Iraq and Turkmenistan.
Al-Wazzan added that the Kuwait-based company also owns a 10 percent stake in Makamin Saudi Company for Oil and Gas Services, as well as operations in Sudan and India. Moreover, the company is seeking for an acquisition opportunity in the Middle East and North Africa region.
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more