Mubasher: The board of National Consumer Holding Company (NCHC) has accepted Afkar Holding’s offer to fully acquire Al Watania Paper Products Company (Waper) at a value of KWD 2.39 million.
The transaction's value includes a KWD 1.018 million selling price, KWD 1.049 million for receivables, in addition to a cash sum of KWD 324,785, according to a statement to Boursa Kuwait on Tuesday.
NCHC owns 99% of Waper's share capital, with a value that amounts to KWD 1.1 million.
Following the deal, NCHC will generate KWD 468,398 worth of profits that will reflect on this year’s financials.
Earlier this week, NCHC received a letter of intent from Afkar Holding regarding the acquisition of its subsidiary.
It is worth mentioning that Afkar Holding is a subsidiary of Gulf Investment House (GIH).
