Synergy Holding Company announced that it has increased its ownership in its subsidiary Synergy Energy Services Company - a closed company - by 3.579%, at a cost of KWD 256.71 thousand.
According to a statement issued today, Monday, by "Synergy Holding" to Boursa  Kuwait that its stake in the subsidiary company increased from 95.87% to 99.63% after the announced increase.
The Company added that the impact of this material information on its financial position will be reflected in its income statement by increasing the company's share in the subsidiary's financial results, whether in profit or loss in proportion to the increase in ownership.
The impact of this transaction on the consolidated balance sheet will also be reflected through an increase in the shareholders' equity of the parent company in proportion to the increase in ownership, and a corresponding drop in minority shares in the same percentage.
Synergy Holding reported a loss of about KWD 295.17 thousand o the first half of 2021 by compared to KWD 71.15 thousand profits in the corresponding period of the previous year.