Saffar, a Middle East and North Africa-focused financial services and investment group, has announced the sale of Zawya Limited, a Mena online business intelligence platform, to Thomson Reuters, a leading provider of information for businesses and professionals.

With the sale to Thomson Reuters, Saffar’s investment in Zawya becomes one of the most successful internet and media investments in the Mena region, a statement said.

Yousef Al-Quraishi, chairman of Saffar, said: “The scope of this sale and the quality of the parties involved underscores the value that can be created when institutional support, founding vision and strong management come together."

Ihsan Jawad, vice chairman of Zawya, said: “As entrepreneurs, we are proud to have founded and built one of the leading internet companies in the Middle East. We are also pleased that our focus on quality from day one has made Zawya fit for a global player like Thomson Reuters".

Arma Partners acted as exclusive financial adviser to Saffar, and SNR Denton and Maples & Calder acted as legal advisers to Saffar on the sale of Zawya. - TradeArabia News Service