NBK Capital, the investment banking arm of National Bank of Kuwait, said on Sunday it has bought a 40 per cent stake in Saudi car rental firm Al-Talaa International Transportation Company (Hanco).

NBK Capital did not disclose the value of the deal in a statement. Amjad Ahmad, head of investment and merchant banking at NBK Capital, told Reuters in March the firm was aiming to make four acquisitions worth as much as $80 million for a $250 million private equity fund this year.-Reuters