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 Dubai firm dnata acquired Thai travel company Destination Asia

dnata-thailand.jpgDubai firm Dnata Holdings has acquired Thailand destination management company Destination Asia Group.

Founded in 1996 and headquartered in Thailand, Destination Asia has presence in 11 major countries in Asia including Vietnam, China, Japan, Myanmar, Vietnam, Hong Kong, Singapore, Malaysia, Cambodia and Laos. (Dnata's is the largest provider of travel services and products in the Middle East, and operates more than 200 retail outlets worldwide, handling more than 3.5 million bookings, 7 million bed nights, and 7 million passengers).

To see a list of investment firms similar to Dnata Holdings check Middle East Investors Directory.

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 Saudi investors of PIF acquired stake at US firm Uber for $3.5 billion

uber saudiSaudi Arabia investment firm Public Investment Fund (PIF) has acquired $3.5 billion stake in US ride sharing service Uber - Reuters reported.

The investment values Uber at $62.5 billion, making it the most highly valued venture capital-backed company in the world. PIF has a diverse portfolio made up of approximately 200 investments, of which around 20 are listed on Tadawul, the Saudi Stock Exchange.

To see a list of investment firms similar to PIF check Middle East Investors Directory.

More details follows from Reuters

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 Dubai venture capital firm Turn8 launched $60 million VC fund

turn8-dubai.jpgDubai venture capital firm Turn8 announced launch of its $60 million venture capital fund.

Since its inception in 2013, Turn8 Dubai has launched and invested in over 60 companies from all over the world. It started as a collaborative corporate innovation initiative with DP World, a multinational port operator.

Turn8 is listed in the Middle East Investors Directory with the code SAU49.

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 Qatar Mayhoola investment acquired French fashion brand Balmain for $522 million

mayhoola-france.jpgMayhoola for Investments, an investment firm based in Qatar, has agreed to acquire French fashion brand Balmain for $522 million.

Founded in 1914 by Pierre Balmain, it has generated some 130 million euros in sales in 2015 with sales growth of some 25 percent. As DubaiBeat reported back in 2012, Mayhoola also acquired Italian luxury brand Valentino for $850 million.

Mayhoola is listed in the Middle East Investors Directory with the code SIJ72.

More details follows from Reuters

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 Bahrain investors acquired European cyber security firm Coresec

coresecBahrain investment firm Investcorp has acquired Coresec Systems, a European cyber security and networking solutions firm.

Established in 2003 with more than 220 employees and an estimated turnover of €60 million in 2015, Coresec Systems delivers cyber security and networking solutions. It has offices in Malmö, Stockholm, Gothenburg, Oslo, Amsterdam, Copenhagen and Aarhus. (Coresec marks Investcorp’s second acquisition in Scandinavia in less than a year. It has also recently invested in Corneliani, a luxury menswear brand in Italy)

Investcorp is listed in the Middle East Investors Directory with the code OR30.

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 Qatar private equity firm QInvest acquired asset management firm Portfoy

qinvestQInvest, a Qatar-based private equity firm, has acquired Ergo Portfoy, an asset management firm in Turkey.

Portfoy is one of the leading asset management groups in Turkey with over 1.5 billion Turkish Liras in assets under management, providing pension and mutual fund and discretionary portfolio management services. Established in 2007 QInvest’s has paid up capital of $750 million with shareholders including Qatar Islamic Bank, institutional investors, as well as high-net-worth individuals. The amount of the deal is not disclosed.

QInvest is listed in the Directory of Venture Capital and Private Equity in the Middle East with the code LIP08.

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 Middle East investors of Rasmala acquired Abbvie House in UK for $35 million

rasmalaRasmala, a Middle Eastern investment firm listed in London, has announced acquisition of Abbvie House, an office building located in Kent UK, for $35 million.

Rasmala has plans to invest approximately $1.5 billion in a broad mix of commercial real estate transactions in the UK, continental Europe and the US over the course of the next three years.

Rasmala is listed in the Middle East Investors Directory with the code OR48.

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 Middle East investment firm EIP and consortium acquired UAE firm for $17 million

eip lebanonEmerging Investment Partners (EIP), a Middle Eastern investment firm based in Lebanon and a consortium acquired UAE’s Almasa Meat Processing Company for $17 million.

The consortium also includes Siniora Food Industries, a Jordan-listed company. The seller is Al Ghurair Group. Emerging Investment Partners is an investment management firm established in 2014 by the Obegi group and Generation Alfa, together with Wassim Heneine and Karim Burhani.

Emerging Investment Partners EIP is listed in the Middle East Investors Directory with the code MA1604.

More details follows:

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