Kuwait Petroleum Sells Sanofi-Aventis Minority Stake

Kuwait Petroleum Corporation has confirmed that it has sold its remaining 3.4% stake in French drug major sanofi-aventis, reportedly worth EUR2.68bn (US$3.49bn). The company, which sold a 2.8% stake in September, claimed that the stake was not a "strategic" holding and that favourable market conditions had prompted the sale.