Zain Group receives $1.3 bln offer for Sudan business

Zain Group received a non-binding purchase offer from Invictus Holding Co (IHL) to acquire its entire stake in Zain Sudan and Kuwaiti Sudanese Holding Co for $1.3 billion, according to Zain Group. As such, the Kuwaiti bourse, Zain said in a statement, “The board has decided to proceed with the due diligence process to provide […]

KSA’s sovereign fund to acquire 60% of Zain towers

Saudi Arabia’s sovereign wealth fund proposed a non-binding offer to acquire a 60 percent stake in Kuwaiti-backed Zain’s KSA towers with various investors offering to buy another 20 percent, leaving the telco’s assets with an $807 million valuation, according to Zain KSA. The Public Investment Fund (PIF) offered a whopping $484 million for 60 percent […]