Kuwait to sell 40% of national airline

Published Wednesday, January 09, 2008

By Agencies

Kuwait wants to sell 40 per cent of loss-making national carrier Kuwait Airways [KA.UL] to the public and 35 per cent to a long-term investor within two years, according to a draft law obtained by Reuters.

"Forty per cent will be offered in an initial public offering to Kuwaiti nationals," the Bill, which is due to be debated by parliament on Wednesday, said.

"Thirty five per cent will be offered by a government agency in a public auction open to companies listed on the Kuwait stock exchange and specialised foreign firms," the Bill said.

Kuwait would name two advisers to value the carrier, the Bill said. Reuters)

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