Bahrain-based investment manager Investcorp has bought a controlling stake in Scotland-based oil field services provider Hydrasun, taking its US$1bn Gulf Opportunity Fund closer to full deployment.
Investcorp has been selling assets and making new investments as financial markets recover from the twin blows of the Arab Spring uprisings and the global financial crisis.
The company did not disclose the size of the stake or the value of the deal, but said it bought the holding from Equistone Partners Europe Limited.
"It's in the middle market range," Mohammed al-Shroogi, Investcorp's president for the Gulf business, said on Monday.
Read more: http://www.arabianbusiness.com/investcorp-buys-scottish-oil-field-services-firm-489997.html
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