Salhia Real Estate Company, listed on the Kuwait Stock Exchange, announced the sale of a 90% stake in one of its subsidiary companies, at a value of 81.8 euros, equivalent to 28 million dinars (91.9 million dollars). ).

The company said in a statement to the stock exchange today, Wednesday, that it sold the aforementioned stake in Hadiya Holding Company in the Republic of Germany, which is owned by the company by 90.89% and works in the field of residential care homes for senior Age.

The company explained in the statement that the profits of the sale deal are estimated at about 21.6 million dinars ($ 70.3 million).

It showed that the profits will be recognized and recorded in the income statement of the parent company (Salhia) at the value of the indicated quarter, during the second quarter of 2020.

She also stated that the effect of the deal on the consolidated financial position is to stop collecting the financial statements of Hadiya Holding Company within the consolidated financial statements of Salhia Real Estate Company.