Bahrain firm eyes retailer
ISTANBUL- Hürriyet Daily News
Bahrain-based Investcorp is in the final stages of a bid to purchase Turkish discount retailer A101, according to Wall Street Journal’s Market Watch. Investcorp is looking to spend $400 million in both Turkey and the Middle East by the end of 2013. Previous Investcorp investments include Dubai-based IT services company Redington Gulf, Saudi jewelry manufacturer L’azurde, Gulf Cyro, a specialty chemical business in Kuwait, and Turkish agricultural products supplier Tiryaki, according to the same source.
Investcorp is a Bahrain-based private equity fund investing in the United States and Western Europe. In 2007 it expanded its portfolio to invest in businesses in the Arabian Gulf and Middle East.
Investcorp is also interested in acquiring London-based Permira, according to reports