The first quarter of 2017 saw 13 merger and acquisition (M&A) deals executed at Boursa Kuwait, with a total value of KWD 366.23 million ($1.2 billion).
These M&A deals included Adeptio AD Investments SPC’s compulsory acquisition of Kuwait Food – Americana for a total value of KWD 283.74 million.
Following a series of negotiations that lasted from December 2016 to April 2017, Qurain Petrochemical Industries purchased the entire 26.82 million shares of National Petroleum Services (Napesco), at a total value of KWD 21.46 million.
Qurain also purchased a 58.76% stake in Inshaa Holding, with a total value of KWD 8.08 million.
On 5 January, Kuwait Finance House (KFH) raised its stake in Al Salam International Hospital to 76.1% by purchasing Yiaco Medical’s stake for KWD 20 million.
In mid-February, First Investment raised its stake in Burgan Drilling to 14.666% from 11.7%.
On 19 February, Zain Group entered a joint investment with iflix company to establish a commercial entity, iflix Arabia, in which Zain will own a 33% stake for KWD 3 million.