Sedco Capital, a leading asset manager based in Saudi Arabia, has successfully completed the acquisition of a strategic minority stake in Nedec, one of the largest manufacturers of die-casting and machining products.

Established in 1985 and headquartered in South Korea, Nedec's products are used in storage devices, automobile components and precision motors. It operates manufacturing facilities in Korea and has operations in China, Philippines, Vietnam, Thailand, Mexico and the US.

Hasan Al-Jabri, chief executive officer of Sedco Capital, said: "We are delighted to be partnering with one of the leading manufacturers of die-casting internationally. This transaction is in-line with our strategy to grow our assets under management regionally and globally while seeking new acquisition opportunities to create valuable partnerships and high return on investments.

"We are pursuing investments in sectors where our team has built a solid track record and believe this acquisition will create value for our investors and shareholders and enhance our ability to generate returns," he added.

Sedco Capital's global network allows it to find and invest in unique companies across sectors and geographies, a statement said.

It currently manages assets in a diversified spectrum of investments in real estate, equities and other businesses with a total assets under management of about $5.1 billion. - TradeArabia News Service