Qurain Petrochemical Industries Company K.S.C.P. (KWSE:ALQURAIN) agreed to make a mandatory offer to acquire the remaining 49.5% stake in National Petroleum Services Company K.S.C.P. (KWSE:NAPESCO) for KWD 21.5 million on January 3, 2017. Under the terms, 26.82 million shares of National Petroleum Services will be acquired at KWD 0.8 per share. In a related transaction, Qurain Petrochemical Industries Company K.S.C.P. acquired an additional 11.83% stake in National Petroleum Services Company K.S.C.P. As of February 1, 2017, Kuwait's Capital Markets Authority approved the transaction.

As of February 13, 2017, National Petroleum Services Company' Board rejected the offer on the basis of unfair price. As of March 16, 2017, no shareholders of National Petroleum Services Company K.S.C.P. accepted the offer. Baker Tilly Kuwait acted as a financial advisor to National Petroleum Services Company K.S.C.P. and Faisal M. Sarkhou of KAMCO Investment Company K.S.C.P., Advisory Arm acted as a financial advisor to Qurain Petrochemical Industries Company K.S.C.P. and Hossam Abdullah of Al Hossam Legal acted as a legal advisor in the transaction.