Investcorp buys stake in Saudi Arabia’s Al Borg Laboratories
Investcorp, Bahrain-based private equity firm, bought a stake in Saudi Arabia’s Al Borg Medical Laboratories, one of the largest medical laboratory chains in the Gulf, according to sources speaking to Reuters. Neither company announced the investment value or stake; however, a source close to the deal told Reuters that investing was in the range of USD100-200mn , for a 30-40% stake. Al Borg has 53 laboratories across eight countries in the Gulf and Africa. (Reuters)
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