TIDM61DH

RNS Number : 6203T

Kuwait Projects Co SPC Limited

16 January 2025

Kuwait Projects Co SPC Limited

Supplementary Disclosure regarding Burgan Bank's acquisition of United Gulf Bank

Kuwait Projects Company (Holding) K.S.C.P. (KIPCO), the Guarantor of Kuwait Projects Co SPC Limited, announced that Burgan Bank K.P.S.C. (a subsidiary of KIPCO Group) has signed a Share Purchase Agreement with United Gulf Holding B.S.C. (a subsidiary of KIPCO Group) to acquire a 100% stake in United Gulf Bank B.S.C.C., for a total consideration of US$190mn (KD59mn).

The transaction procedures are expected to be completed during first quarter of 2025.

For further information, please contact:

Investors, Press and Media:

Eman Al-Awadhi

49(th) 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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January 16, 2025 05:32 ET (10:32 GMT)