Zain receives non-binding offer for Sudanese unit

Kuwait-based Zain Group has announced that it has received a non-binding offer from Invictus Holding Limited to acquire 100% of Zain Sudan and Kuwait Sudanese Holdings. According to a statement from Zain Group, Invictus, which is a subsidiary of Dal Group, has offered a total of USD1.3 billion. The board of directors has agreed to proceed with the due diligence process to provide the initial approval. The statement adds that further material updates will be ‘disclosed in due course’.