Kuwait Projects Company Holding K.S.C.P. (KWSE:KPROJ) entered into an agreement to acquire 51.19% stake in Jordan Kuwait Bank (ASE:JOKB) from Burgan Bank S.A.K.P. (KWSE:BURG) for approximately KWD 190 million on December 30, 2015. As a result of transaction, Burgan Bank will exit from the ownership of Jordan Kuwait Bank. The transaction is executed in two phases, Kuwait Projects completed the acquisition of 25.46% stake in Jordan Kuwait Bank on December 30, 2015, the remaining 25.73% stake in Jordan Kuwait Bank is expected to be transferred on December 31, 2015.