Leading Private Equity Firm - HBG - Acquires Stake in Muscat Finance CompanyLeading Private Equity Firm - HBG - Acquires Stake in Muscat Finance Company
Sep | 2008
Dubai 4th September 2008 - HBG Holdings ("HBG"), a leading Jeddah and Dubai based investment firm specializing in private equity and real estate investments, has today announced its acquisition of a strategic stake in Muscat Finance Company ("MFC"), a public joint stock company listed on the Muscat Stock Market.
HBG, whose stakeholders include NCB Capital, a subsidiary of the National Commercial Bank of Saudi Arabia, has acquired 9 million shares or 10% of MFC, worth approximately 9.7 million. The shares were acquired in strategic blocks from existing shareholders.