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Batelco and Kingdom Holding Company Consortium Statement

Batelco and Kingdom Holding Company Consortium Statement

Manama, Bahrain: Batelco and Kingdom Holding Company (KHC) announced that its Consortium to purchase Zain Kuwait's 25% stake in Zain Saudi Arabia anticipates completing due diligence by the end of September 2011. The Consortium intends to move to complete its proposed acquisition of Zain Saudi based on term sheets signed in April and July of 2011 with Zain Group and Zain Saudi Arabia respectively, as soon as all outstanding conditions are satisfactorily negotiated with all parties concerned.

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