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Qatar acquires majority stake in UASC

: Wednesday, July 30 - 2014 @ 17:14

United Arab Shipping Co (UASC) has announced Qatar has bought a 51.3% stake in the Kuwait-headquartered shipping company, Lloyd’s List has reported. Prior to the acquisition, the governments of Kuwait, Qatar, Saudi Arabia, the UAE and Iraq each had a 19.3% stake in the shipping line and Bahrain had a 3.5% shareholding. The change in ownership was the result of Qatar’s contribution to a series of capital increases to support the carrier’s expansion plans, UASC said.

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Wednesday, July 30- 2014 @ 17:14 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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