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KIPCO receives takeover bid for OSN

: Wednesday, July 23 - 2014 @ 06:57

Kuwait Projects C (KIPCO) has said it has received a bid from an unnamed buyer to acquire pay-television operator OSN, a deal that could prove to be one of the largest acquisitions of a regional business in recent years, Reuters has reported. Kipco, which owns 60.5% of OSN, said it would evaluate the bid alongside its partner and update the market if there were any developments. Saudi Arabia-based Mawarid Group owns the rest of OSN. No value for the bid was given. However, brokerage Arqaam Capital last year valued OSN at $4.3bn.

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Wednesday, July 23- 2014 @ 6:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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