DUBAI - Middle Eastern fund Investcorp said on Wednesday its general assembly has approved a board recommendation to delist the company from the Bahrain Bourse.

The delisting is subject to regulatory approvals and is expected to be completed in the third quarter of this year, Investcorp said in a statement.

"It will allow us to be agile, focused on investing for our long-term strategy and enables our senior leadership team to be dedicated to driving growth," Executive Chairman Mohammed Alardhi said in the statement.

"We believe that the continuing shareholders in Bahrain and the region will benefit from this delisting by virtue of the firm's longer term plans which are expected to create future value creation for all stakeholders," he said.

Bahrain and the rest of the six-member Gulf Cooperation Council are part of the fund's "historical fabric" and will continue to be key investment markets, Alardhi said.

 

(Reporting by Yousef Saba; editing by Jason Neely) ((Yousef.Saba@thomsonreuters.com; +971562166204; https://twitter.com/YousefSaba))