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fiogf49gjkf0d A consortium led by Bahrain-based Investcorp including National Commercial Bank of Saudi Arabia and an Abu Dhabi-based investment banking firm has paid more than USD $ 200 million to acquire a 70 % stake in Saudi jewellery firm L’azurde. The founder of 30+ year-old L’azurde, Sheikh Abdul Aziz Al Othaim, will retain a 30 % stake in the firm and will continue as CEO & Chairman of the company. The company had 2008 revenues of more than USD $ 500 million through its 18 flagship retail stores across the region.
A consortium led by Bahrain-based Investcorp including National Commercial Bank of Saudi Arabia and an Abu Dhabi-based investment banking firm has paid more than USD $ 200 million to acquire a 70 % stake in Saudi jewellery firm L’azurde. The founder of 30+ year-old L’azurde, Sheikh Abdul Aziz Al Othaim, will retain a 30 % stake in the firm and will continue as CEO & Chairman of the company. The company had 2008 revenues of more than USD $ 500 million through its 18 flagship retail stores across the region.
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