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Thndr Claps » EGY Claps » Industrials 🏗 » Egypt Kuwait Holding acquires additional stake in its subsidiary

Egypt Kuwait Holding acquires additional stake in its subsidiary

by Shams Abbas
March 20, 2023

The Clap 
Egypt Kuwait Holding has purchased an additional 13.2% stake in its subsidiary Bawabet Al Kuwait Holding (BKH), bringing its total stake to 84.7%.

What 
BKH specializes in natural gas exploration & the fertilizer industry. The deal cost EKH $66.4 million.

It’s worth noting that BKH owns 59.8% of Alex Fertilizers, which means EKH’s stake in AlexFert also increased, now standing at 69.42%

So What
AlexFert’s profits jumped 139% YoY in 2022 due to higher urea prices & the fact that it exports 70% of its production, two things EKH highlighted in its strong 2022 earnings results.

Now what
EKH had said it plans to invest $170 million in the Egyptian market throughout 2023.

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