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NBK Capital hires adviser to run sale of stake in Saudi Arabia’ Nayifat

14 Apr 2014

saudi arabia mosque sunset islamThe National Bank of Kuwait’s private equity arm, NBK Capital, has reportedly hired Peralla Weinberg to advise on a sale of Saudi consumer finance company Nayifat.

NBK hopes to sell its 38 per cent stake according to Bloomberg, which cited two people familiar with the matter.

They added that non-Saudi banks in the Middle East and private equity firms were interested in buying the stake, which NBK bought in 2008.

Nayifat, which provides consumer finance products which comply with Islamic law, had revenues of $178m and net income of about $21m last year.

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