Kuwait Projects Company Sukuk Limited
Supplementary Disclosure regarding Burgan Bank obtaining final CBK approval to acquire 100% stake in UGB
Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), in its capacity as the Obligor of Kuwait Projects Company Sukuk Limited, announced that Burgan Bank (a subsidiary of KIPCO Group) has obtained final approval from the Central Bank of Kuwait (CBK) to acquire a 100% stake in United Gulf Bank B.S.C.C. (UGB), a Bank that operates in the Kingdom of Bahrain under a Wholesale Banking License.
The implementation of this transaction remains subject to closing procedures, which are expected to be completed during first quarter of 2025.
For further information, please contact:
Investors, Press and Media:
Eman Al-Awadhi
49th Floor
KIPCO Tower, Khaled Bin Al-Waleed St, Sharq
P.O. Box 23982
Safat 13100
Kuwait
Tel: +965 2294 3416, Email: eman.alawadhi@kipco.com
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