Nov 21 2010 |
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United Gulf Bank Increases Shareholding in Burgan Bank
UGB
raises stake in
Burgan Bank
to 17%
-Ends-
About
UGB
:
UGB
, the investment banking subsidiary of KIPCO Group, manages a regional network of investment banking and asset management companies. Its proprietary investments include assets in real estate, private equity, structured products and quoted securities. As of 30 September 2010, assets under management exceeded US$ 8.1 billion (31 December 2009: US$ 7.2 billion).
UGB
's core subsidiaries, associates and joint venture include: Al Dhiyafa Holding Company, Al Sharq Financial Brokerage Company, KIPCO Asset Management Company (KAMCO), Manafae Investment Company, Millennium Private Equity Limited, North Africa Holding Company, Royal Capital Company, Syria Gulf Bank, United Networks (formerly United Cable Company), United Gulf Financial Services - North Africa,
United Industries Company
and United Real Estate Company.
UGB and its subsidiary KAMCO have a proven track record of successfully completing around 60 investment banking transactions for its clients since 2001 with an aggregate value of over US$ 8 billion including corporate finance, advisory, new issue placement and underwriting, corporate restructuring, bond issuance and merger and acquisition. www.ugbbh.com
KIPCO Group is one of the largest diversified holding companies in the Middle East and North Africa, with consolidated assets of US$ 18.6 billion. The Group has substantial ownership interests in a portfolio of over 60 companies operating across 26 countries. The company's main business sectors are financial services and media. Through the subsidiaries and affiliates of its core companies, KIPCO also has interests in the real estate, manufacturing, airline, education and management advisory sectors. www.kipco.com
For further information:
United Gulf Bank
Anne Khoshabi
T: +97317533233
E: akhoshabi@ugbbah.com
FD
Hugh Barker
T: +971502487620
E: hugh.barker@fd.com
© Press Release 2010
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