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Mon 27 Dec 2010 03:39 PM

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Kuwait's NBK Capital buys stake in Turkish firm

Investment fund acquires a 20 percent stake in Turkish aquaculture firm Kilic Deniz, its fifth in the country

Kuwait's NBK Capital buys stake in Turkish firm
NBK Capital, The investment banking unit of NBK, did not specify a value for its newest deal in Turkey (ITP images)

NBK Capital, an investment fund owned by National Bank of Kuwait (NBK), on Monday said it acquired a 20 percent stake in Turkish aquaculture firm Kilic Deniz.

The investment banking unit of NBK did not specify a value for the deal.

"We will continue to execute on Kilic's proven strategy and provide the necessary support to solidify its position as a regional leader," Amjad Ahmad, senior managing director at NBK Capital said in a statement on Tuesday.

Kilic's chairman Orhan Kilic stated that proceeds from NBK stake sale will be used for expansion and capital funding.

The deal is NBK Capital's fifth investment in Turkey, the statement said.

In June, the investment fund of Kuwait's biggest lender acquired a 30 percent stake in Turkey's World Eye Hospital Group, and said it would eventually hold a public offering in the company.

 

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