Al Salam upbeat over impact of Gulf Petroleum stake on Q3

Dubai: Al Salam said on Thursday its stake in Gulf Petroleum will have positive impact on its third quarter financial statement. Al Salam Holding acquired 20 per cent shares in Gulf Petroleum Investment, making Gulf Petroleum an associate of Al Salam. The market cap of the company is £40 million (Dh240 million) while is has a total value of holdings in excess of £1 billion. The company is listed on the Kuwait, Dubai and Egyptian stock exchange.