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Investcorp plans to delist from the Bahrain Bourse and convert to a closed shareholding company as a part of its long-term strategy.
The global provider and manager of alternative investment products said in a statement Wednesday that delisting and becoming a private company “is the most appropriate ownership structure at this stage.”
Investcorp, which manages $35.4 billion of assets and counts Abu Dhabi sovereign wealth fund Mubadala Development Co. as a major investor, said its shareholders have green-signaled the board’s proposal and the conversion is expected to be to complete during the third quarter of 2021.
“Delisting and becoming a private company is the most appropriate ownership structure at this stage in the continuing journey of Investcorp,” Mohammed Alardhi, executive chairman, said.
Since its inception four decades ago, Investcorp has made approximately 200 private equity investments in the US, Europe, the Middle East and North Africa region and Asia, across a range of sectors.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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© ZAWYA 2021
