Egypt Kuwait Holding has sold a 25% stake in International Pipe Industry Company (IPIC) to Kuwait Pipe Industries & Oil Services (KPIOS) for $20 million.

The company said in a statement that the stake amounted to 100,000 shares.
IPIC runs a steel pipe mill that produces pipes and a pipe bending plant, while KPIOS is a pipe manufacturer and pipeline contactor, according to the companies’ websites.

(Upstream Online)