L Capital Asia Invests in Saudi Arabia-based Bateel (MENA)

Source: Zawya | Author(s): Nicolas Parasie

L Capital Asia, an Asia-focused private equity fund manager backed by global luxury goods distributor LVMH Group, has purchased a minority stake in Saudi Arabia-based gourmet confectionery producer and restaurant chain Bateel. The company intends to expand to the rest of the Middle East, as well as to European markets and the Far East. Financial details of the transaction were not disclosed.