BABTAIN re-assesses value of french investment

07/01/2013 Tadawul

 

Al Babtain Power and Telecommunication announced that it is reassessing the valuation of the investment of Al-Babtain France, established in April 2012, for acquiring Petitjean SAS.

The reassessment relies on international financial reporting standards, which allow the revaluation of investments’ fair value within a year of the date of buyout.

French Accuracy Company is handling the valuation. The study is expected to render capital earnings, to be announced as soon as completed.
 

A financial effect on company’s results is expected in 2012.

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