Investcorp to Acquire a 35 Percent Stake in Kuwaiti Automak (MENA)
United Arab Emirates-based alternative investment manager Investcorp will acquire a 35 percent stake in Kuwaiti vehicle leasing and rental company Automak through its US$1 billion Gulf Opportunity Fund. Automak operates a fleet of over 4,500 vehicles. The investment marks Investcorp’s second in Kuwait after its 2009 investment in Gulf Cryo, a manufacturer of industrial and medical gases. Financial details of the transaction were not disclosed.