Suez Cement, listed on the Egyptian Exchange (EGX), sold its stake in the Kuwaiti cement producer for a value of KWD 3 million or KWD 0.057 per share, according to a bourse statement on Sunday.
Earlier, the board of directors of Suez Cement approved a decision to offer its 51% stake in Hilal Cement for sale.
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During 2019, Hilal Cement incurred net losses of about KWD 681,100, up from nearly KWD 68,750 in 2018.
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