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FINANCIAL NEWS
Bahrain-based Investcorp to buy 30 pct stake in Theeb
29 Sep 2013
(MENAFN) Investcorp, a Bahraini alternative investment manager, has bought a stake in Saudi-based Theeb Rent a Car and acquired the multi-channel US retailer Paper Source, according to Arab News.
Investcorp’s Gulf Opportunity Fund bought 30 percent of Theeb’s stake. The stake purchase is expected to play a significant role in making decisions.
Mohammed Al-Theeb, co-founder and chief executive of Theeb, commented: “We hope to achieve double-digit growth over the next five years.”
“With Investcorp’s active support, we believe we are well-positioned to consolidate our position and acquire further market share,” he added.
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