Foulath Holding Shareholders Back Internal Restructuring of the Group
Foulath Holding shareholders approved a restructuring that moves the group's Saudi operations to its owners in line with their stakes, Gulf Cables and Kuwait Foundry said.
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what happened
Shareholders of Foulath Holding have approved an internal restructuring of the group, according to Reuters, which cited statements from Gulf Cables and Electrical Industries Group and Kuwait Foundry Co.
Under the plan, the group's operations in Saudi Arabia will pass to its shareholders in proportion to their holdings. Once the procedures are complete, Gulf Cables will own a 10% stake in Foulath Arabia Holding while keeping its existing 10% in Foulath Holding. Kuwait Foundry will acquire a 5% stake in Foulath Arabia Holding and retain its existing 5% in Foulath Holding.
why it matters
For the broader market the deal is local in scope, since it changes ownership structure inside one group. The statements do not mention cash flows or effects on commodity prices, so any market impact looks limited and interest is concentrated among shareholders of the two companies.
tags
instruments
sources
- Gulf Cables Says Foulath Holding Shareholders Approve Internal Restructuring Of Group — Reuters, 20 October 2026 at 10:42 UTC
- Kuwait Foundry Says Foulath Holding Shareholders Approve Internal Restructuring Of Group — Reuters, 20 October 2026 at 10:41 UTC
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