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