Gulf Cable and Electrical Industries Company KPSC (KWSE:CABLE) agreed to acquire 25.52% stake in Heavy Engineering Industries and Shipbuilding Company K.S.C.P. (KWSE:SHIP) for KWD 27 million on December 2, 2021. The transaction will be financed from the long term loan of KWD 30 million. The transaction is approved by the board of Gulf Cable and Electrical Industries Company KPSC on December 2, 2021.