The Kuwait Projects Company (KIPCO) and the Kuwait Qurain Petrochemical Industries Company announced today, in two separate statements to the Kuwait Stock Exchange, the unanimous approval of their boards of directors on the report of the asset valuator and the opinion of the investment advisor regarding the fairness of the valuation related to the merger process between them.
In March, the two companies announced that they had reached a “preliminary” agreement for the merger through the merger, whereby KEPCO will be the merging company, while the partner will be the merged company, reports a local Arabic daily.