The Board of Directors of the National Consumer Holding Company) NCHC (agreed not to complete the acquisition deal of Al-Hadi Holding Company and to sign a letter terminating the letter of intent.

"Consumer" explained, according to a statement to the Boursa Kuwait Stock Exchange today, Thursday, that this came after presenting the discussions that took place with the selling parties since the issuance of the decree to cancel Afia insurance and because of its material impact on the financial position of the company subject to the acquisition.

It said that the negotiations resulted in all parties agreeing to terminate the letter of intent and refrain from completing the remaining procedures of the deal.