Salah Al Fulaij
NBK Capital advises Qtel on $1.8bn acquisition
Kuwait, October 27, 2012
Kuwait-based NBK Capital advised Qatar Telecommunications (Qtel) on the completion of its $1.8 billion acquisition of 39.61 per cent of National Mobile Telecommunications (Wataniya Telecom).
The offer was well received by shareholders, bringing Qtel’s ownership to above 92 per cent.
NBK Capital, a subsidiary of the National Bank of Kuwait (NBK), leveraged its in-depth knowledge of the local market, its unparalleled access to investors and its solid track record in executing high profile transactions in the region. The success of this transaction reaffirms NBK Capital’s position at the top of the M&A league tables.
“This is a landmark transaction that involved working with a number of parties, including regulators and investors. The decision by Qtel to appoint NBK Capital to advise on such a high profile transaction demonstrates confidence in NBK Capital’s capability,” said Salah Al Fulaij, CEO of NBK Capital.
“Since the CMA was established, Kuwait has seen a number of tender offers, which confirms the country’s status as an attractive destination for doing business and a well-regulated and transparent market,” he added. – TradeArabia News Service
More Finance & Capital Market Stories
- Dubai inflation hits 4-year high in Nov
- New guidelines for Islamic banks, Takaful
- ADS to enter UK in 2014, starts pricing yuan
- Citadel cuts net loss as regional unrest eases
- Saudi inflation edges up to 3.1pc y/y in Nov
- Kuwait's Investment Dar reaches key debt agreement
- Banks on alert over ATM fraud
- Bahrain's economy bounces back on positive outlook
- Mena inbound M&A value triples to $3.9bn
- DFM opens educational trading floor at varsity