07 Aug 2017 - 1:13
Kuwait’s PIA sells stake in Areva
Kuwait’s Public Investment Authority (PIA) has sold its share, 4.8 percent, in the French energy company Areva to the French Government at a value of €83m ($97.7m), the PIA said in a statement on Saturday, according to QNA.
Despite losses in the PIA investments in Areva, the authority has succeeded in posting KD45.2bn (approx. $149bn) worth of net profits for the period from 2010-2011 to 2016-2017, during which it invested in the French company.
This asserted PIA’s keenness on diversifying investments to make profits without being affected by losses in a single investment, Kuwait news agency KUNA reported.