Kuwait Investment Authority sells 20 million shares in Mercedes-Benz Group – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Kuwait Investment Authority sells 20 million shares in Mercedes-Benz Group – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

This post has been read 3852 times!

KUWAIT CITY, March 30: The Kuwait Investment Authority sold about 20 million shares in the Mercedes-Benz group – nearly a quarter of its stake – after the automaker’s share almost quadrupled over the past three years, reports Al-Jarida daily. According to a statement published by “Bloomberg”, the KIA will own about 53 million shares after the completion of the share offering, which is part of an attempt to diversify its portfolio. With an “indicative price” share value of €69.27, the value of the stake offered for sale would be around €1.4 billion ($1.5 billion).