Sunday, Feb 10, 2013
DUBAI (Zawya Dow Jones)--Privately-held Qatar First Investment Bank (QFIB) said Sunday it bought a majority stake in Al Wasita Emirates for Services & Catering LLC via a management buyout, the Islamic lender's third deal in the industrial sector and fourth in the United Arab Emirates.
"Our aim is to drive the growth of the company and increase its geographical reach by leveraging on our network of contacts in the MENA region and Turkey," said Emad Mansour, chief executive of QFIB, in an emailed statement.
Financial details were not disclosed.
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(END) Dow Jones Newswires
10-02-13 0728GMT
