Investcorp Acquires a 30 Percent Stake in Saudi Arabia’s Theeb Rent a Car (MENA)
Investcorp, a Bahrain-based manager of alternative investment products, has acquired a 30 percent stake in Saudi Arabia-based car rental company Theeb Rent a Car. The transaction was structured through Investcorp’s Gulf Opportunity Fund. Theeb currently employs 900 people and operates a fleet of over 10,000 cars. The company intends to use the new capital to consolidate its market position and acquire further market share. Financial details of the transaction were not disclosed.