A 2013 Billionaire census report by Wealth-X and UBS showed an increase in the number of millionaires in the Middle East, and that amount of wealth hold by Middle Eastern billionaires topped any other region in the world.
Saudi Arabia
TAQNIA picks up stake in Acwa solar arm in Saudi Arabia
Saudi Arabia-based development and investment firm Technology Development & Investment Co (TAQNIA) picked up a 50% stake in Sun & Life, the solar energy unit of power and water company Acwa.
Swiss firm Sulzer inks deal to purchase majority of Saudi Pump Factory
Winterthur, Switzerland-based industrial engineering and manufacturing firm Sulzer Ltd inked a deal to purchase a 75% interest in Saudi Pump Factory together with the latter's owner Nabil Al Hashim, in a deal valued at CHF33 million.
Saudi Aramco to acquire $2B stake in SoKor's S-Oil Corp- official
An unnamed official from South Korea's S-Oil Corp said Saudi Arabian Oil Co or Saudi Aramco, the largest crude exporter in the world, will be buying a $2 billion stake in S-Oil, Bloomberg reported.
Investcorp buys minority stake in Turkish food producer Namet for undisclosed sum
Bahrain private equity firm Investcorp has bought a significant minority stake in Turkish fresh cut and packaged processed red meat producer Namet for an undisclosed sum. Early this year, Investcorp acquired a 25% stake in Saudi Arabia's Leejam Sports Co.
Latest News
Fremantle-based livestock export giant Wellard Group’s shipping and land division have attracted strong interests from wealthy investors in Saudi Arabia and Brazil, according to industry insiders.
TVM Capital MENA chairman and chief executive officer Dr Helmut Schuehsler offered words of caution to companies in the Gulf region who decides to get listed on foreign exchanges.
Saudi International Petrochemical Company and Sahara Petrochemical Company agreed to start due diligence over a planned merger deal. The deal is reportedly worth SAR6.67 billion.
A revival in public listings is set to take place in the Middle East and North Africa or MENA with the improvement in capital markets conditions, a report in Gulf Business said.
Samsung C&T Corp. on Monday announced that it has been awarded with a KRW1.29 trillion (USD1.22 billion) order to build a power plant in the western Saudi coast. Rabigh 2 power plant is expected to yield 2060 megawatts of electricity.
TPG Capital and Abraaj Group had formed a partnership to succeed over KKR & Co. in acquiring a majority stake in fast-food chain Kudu. Kudu has over 200 restaurants located in Saudi Arabia.
With the IPO of microblogging service Twitter recently concluded, the 3% shareholdings of Kingdom Holding initially worth USD300 million in 2011 is now worth USD900 million.
Lulu Hypermarkets chief executive officer Yusuffali M.A. said his company would be entering in expanding in emerging markets and create new ones in the Middle East and Asia.
EC Harris and Mace would form a joint venture to manage the construction of Kingdom Tower. The United Kingdom's EC Harris and Mace had signed a joint venture agreement to provide project management services.
