Friday, September 30, 2022

Baghdad

Iraq’s KDC acquires 51% of KREDCO Real Estate Company

 Iraq’s KDC acquires 51% of KREDCO Real Estate Company

(Source: Scott Graham)

Erbil (IraqiNews.com) – Kuwait-based National Real Estate Company Co (NREC) recently sold its entire stake in its Erbil-based subsidiary, KREDCO Real Estate Company (KREDCO). Meysan Partners advised NREC as the sole legal advisor on the sale in Erbil, Iraq.

According to Meysan Partners, NREC sold 51% of KREDCO’s share capital to the Kurdistan Development Corporation Limited (KDC). The deal was made under the authority of the Investment Board in Iraq Kurdistan granting the prerequisite approvals to the transaction. The transaction was completed on 22 December 2021.