The shareholders of the Kuwait-based Zain Group have agreed to sell 46 per cent stake in the company, in a deal worth around $15 billion, to a consortium consisting of Asian and Gulf investors including the Abu Dhabi Investment Authority (ADIA).

The shareholders of the Kuwait-based Zain Group have agreed to sell 46 per cent stake in the company, in a deal worth around $15 billion, to a consortium consisting of Asian and Gulf investors including the Abu Dhabi Investment Authority (ADIA). The sale negotiations are being carried out by the Al-Kharafi Group, which holds 10.8 per cent stake in Zain. The group has reportedly agreed to the sale at a price of $6.94 per share. Zain had recently removed the ownership restrictions on the deal, allowing foreign investors to acquire more than 5 per cent stake in the firm.