Kuwait International Bank (KIB) has announced it will sell its exposure to NMC Healthcare, which was placed into administration last year.

In a statement to Boursa Kuwait, the Kuwaiti lender said it would sell the exposure, aggregating to $74.11 million, for $13.25 million, subject to due diligence requirements. The buyer was not named in the bourse filing.

NMC was placed into administration in September 2020.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

(imogen.lillywhite@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021