Mubasher: Arzan Financial Group for Financing and Investment announced that its 78.6%-owned subsidiary Arzan Capital Holding has sold a 51% stake in Hill Top Netherlands 4 plc.

The deal is valued at EUR 22.38 million or KWD 7.71 million, Arzan Financial noted in a bourse filing on Tuesday.

Selling this equity will result in a decline in investments and liabilities with EUR 22.38 million each, Arzan Financial said, noting that this impact will be registered in the financial statements of full fiscal year 2019.