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Article: Investcorp-Led Consortium Acquires L'azurde.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- March 23, 2009
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Byline: Kelly Holman
Investcorp said Thursday that it has acquired Arabic gold jewelry maker L'azurde.
The Bahrain and New York-based alternative asset manager invested equity from its $1.1 billion Gulf Opportunity Fund I in the deal. It acquired a 70% stake in the Riyadh, Saudi Arabia-based company with co-investors Eastgate Capital Group, a private equity unit of the National Commercial Bank of Saudi Arabia, and Abu Dhabi merchant bank The National Investor.
"Our Gulf franchise and local reputation were key in getting us this deal and in forging this partnership with Mr. Al Othaim to add value to L'azurde over the coming years," said Nemir ...