Monday, Feb 06, 2012
BEIRUT (Zawya Dow Jones)--NBK Capital, the investment arm of National Bank of Kuwait, or NBK, has sold its 40% stake in Al Tala'a International Transportation Co., or Hanco, Kuwait-based Al Watan daily reports Monday.
The NBK is the Gulf state's biggest lender.
Hanco is a Saudi car rental and fleet management company valued at $140 million, the paper reports, without giving the financial details of the deal.
The deal was carried out through NBK Capital Equity Partners Fund which is managed by NBK Capital, Salah Al Fulaij, chief executive of NBK Capital, said according to the daily.
This will enable NBK Capital to continue to focus on investment and on opportunities for growth and expansion in the Middle East, and Turkey and the Persian Gulf countries in particular, he added.
Newspaper website: http://alwatan.kuwait.tt/articledetails.aspx?Id=169333&YearQuarter=20121
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
06-02-12 0555GMT
