NBK Capital exits Turkey hospital chain
Kuwait, May 23, 2013
NBK Capital, a leading bank in Kuwait, has announced the sale of its equity stake in Dunya Goz, Turkey’s largest ophthalmology hospital chain, to the founding shareholder.
This is yet another realization for NBK Capital Equity Partners Fund I, the firm’s regional private equity fund focusing on growth capital opportunities in the Mena region, a statement said.
NBK Capital invested in Dunya Goz in 2010 and was instrumental in improving the financial discipline, strategic focus and corporate governance of the Company. These efforts allowed Dunya Goz to achieve long-term growth objectives expanding from six hospitals in four cities to eleven hospitals in eight cities.
Additionally, the company entered new international markets with successful operations in Germany, the UK and the Netherlands.
Amjad Ahmad, head of Alternative Investments at NBK Capital said: “We continue to drive substantial value in our portfolio companies and seek timely realizations to deliver returns to investors. Our strategy of investing in midmarket growth companies in the Mena region and actively driving key value initiatives continues to deliver positive results.”
NBK Capital Equity Partners Fund I, managed by NBK Capital as part of its Alternative Investments Group, is a $250 million private equity fund that specialises in acquiring strategic stakes in midmarket growth companies in the Mena region. – TradeArabia News Service