Joint Venture6 Jul 2026, 05:10 pm
Kellton Tech EU Forms 49:51 JV with Kuwait's Action Energy
AI Summary
Kellton Tech Solutions Ltd. announced that its wholly-owned subsidiary, Kellton Tech EU Limited, has approved the formation of a Joint Venture with Action Energy Company K.S.C.P. (AEC), Kuwait. AEC will hold a 51% equity stake, while Kellton Tech EU will hold 49%. The JV is initially set for five years with automatic three-year renewals and will focus on business across the GCC region, with an initial office in Doha. The agreement is subject to regulatory compliances. This move expands Kellton Tech's international presence and operational scope within the Middle East.
Key Highlights
- Kellton Tech EU forms a joint venture with Kuwait's Action Energy Company.
- JV structure: 51% by AEC, 49% by Kellton Tech EU.
- Focus on business expansion across the GCC region.
- Initial office to be established in Doha, Qatar.
- JV term: 5 years, with automatic 3-year renewals.
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