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  • 10-08-14

    Kipco rejects USD4.3b offer for OSN

    (MENAFN) Kuwait Projects Company (Kipco) has rejected an offer from a private US equity to buy its television provider OSN, Emirates 24/7 reported.

    The offer, which worth a USD3.2 billion, was turned down by both Kipco, which owns 60.5 percent of OSN, and Saudi-based Mawarid Group which owns the rest.

    The offer included a USD2.4 billion direct cash payment with an additional USD800 million subjected to certain conditions.

    OSN has recently been valued at USD4.3 billion by Arqaam, a Dubai-based brokerage.

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