KIPCO receives takeover bid for OSN

July 23, 2014 6:57 am

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.