Apr 03 2012
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HBG sells strategic stake in Omani lender
Dubai, April 3, 2012:
HBG Holdings ("HBG"), a leading MENA focused private equity group, has announced the sale of its strategic stake in Muscat Finance Company (" MFC ").
MFC is a financial services group listed on the Muscat Stock Exchange and regulated by the Central Bank of Oman. It operates 6 specialized branches and has provided over $1 billion in financing to over 85,000 customers since inception.
HBG acquired a strategic shareholding in May 2008 after a planned merger between National Finance Company and MFC was aborted. Since then MFC has achieved a market leading position according to Ernst & Young.
About HBG Holdings
HBG Holdings ("HBG") is a leading MENA focused private equity group with deep knowledge of the region and its investors. Since its establishment in 2004, the firm has developed a track record of performance by co-investing with its clients across its business lines and leveraging the firm's expertise in special situations and PIPEs. The success of HBG is underpinned by its diverse investor base of leading private investors, family offices and institutional investors from the six Gulf Co-operation Council countries.
For further information about HBG please visit: www.hbgholdings.com
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