Kuwait’s KIPCO’s net profit up 26 percent in Q3

05 Nov 2014

(MENAFN) Kuwait Projects Company (KIPCO), the GCC’s largest investment company, reported it has registered an increase in its net profit by 26 percent during the July-September period of this year, Gulf Daily News reported.

During the third quarter of this year, KIPCO said that it posted a net profit of USD34.8 million, an increase compared with USD21.08 million during the same period of 2013.

KIPCO, a regional investment house with stakes in media, industrial, financial and real estate companies, also said that it rejected a takeover offer from a US private equity firm, which was worth USD3.2 billion, for its pay-television subsidiary OSN.

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