25 June 2016
Kuwait: Agility, Kharafi in early acquisition talk
Kuwait’s Agility said that it was in preliminary talks about potentially acquiring construction firm, Kharafi National. Agility, the Gulf’s largest logistics firm, was reviewing all possible investment opportunities in the Kuwaiti company, it said in the bourse statement. Owned by the al-Kharafi family, Kharafi National is one of the largest construction companies in Kuwait. It is involved in infrastructure project development in water, waste water treatment and district cooling among other services. Al Kharafi Group recently agreed to sell its 67% stake in Americana to an investor alliance led by UAE businessman Mohamed Al Abbar in a deal worth $2.3bn. However, the construction firm won the Kuwait International Airport contract, in a joint venture with Turkey’s Limak Holding for $4.3bn.