What's Hot

    Oman’s Duqm Refinery completes start-up

    September 25, 2023

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023

    Ionic Rare Earths engages DRA Global to advance Makuutu Development

    September 20, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      India reveals expansive rail and ports corridor for Middle East and South Asia

      September 13, 2023

      Green energy – UAE funds African projects through $4.5 billion initiative

      September 6, 2023

      West African ports benefit from international investment

      September 1, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      CYNK – Africa’s first verifiable carbon market launches in Kenya

      September 22, 2023

      Ionic Rare Earths engages DRA Global to advance Makuutu Development

      September 20, 2023

      Turkey Exporters Assembly plans Saudi-Turkish trade summit

      September 18, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      MENAT to see investment flows increase substantially

      Business Business & Trade Finance September 4, 2023
      Recent

      MENAT to see investment flows increase substantially

      September 4, 2023

      Ballim – GGC can play a major role in Africa

      July 17, 2023

      Africa50 invests USD 6.6bln in infrastructure over 6 years

      July 7, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    Samena aims to bring merchant banking to Dubai

    May 27, 20152 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Deal with Kleinwort Benson set to spur regional opportunities

    Dubai-based Samena Capital is set to purchase a significant stake in Kleinwort Benson’s U.K.-based private bank unit. The deal accounts for approximately 31 percent of the bank, and should be completed by the third quarter of this year. Neither party announced the value of the deal.

    Samena Capital is a Dubai-based investment group that specializes in private equity and credit within India, Asia, North Africa and the Middle East. “The acquisition is done through a mix of primary market and secondary market purchase of shares in Kleinwort Benson Bank. At the close of the deal Samena Capital will have close to 40 per cent of the diluted equity of KBB,” said Shirish Saraf, vice-chairman of Samena Capital. Over the next three years Samena has the option to purchase up to 39.9 percent of the bank. Our firmly-held view is that opportunity lies in the closer integration of established and developing markets and the ability to introduce clients to high-caliber, differentiated investments that are not available from more commoditized providers

    Samena aim to open a substantial merchant banking operation in Dubai following the Kleinwort Benson acquisition, and the company views the deal to be the first step in creating such a business. Using Kleinwort Benson’s name, Samena hopes to create a regional hub to further explore opportunities from Dubai into North Africa and beyond and to form a third pillar to compliment Samena’s credit and private equity businesses. “Our firmly-held view is that opportunity lies in the closer integration of established and developing markets and the ability to introduce clients to high-caliber, differentiated investments that are not available from more commoditized providers,” said Leonhard Fischer, CEO of BHF Kleinwort Benson Group.

    Kleinwort Benson Bank offers private banking and corporate advisory services the world over. At the end of the last financial year, the bank held $5.2 billion of assets. Samena oversees a portfolio estimated to be worth approximately $750 million.

    Related article The UAE is the key to Europe’s renewable energy woes

    The Emirates should develop African solar power exports

    Our firmly-held view is that opportunity lies in the closer integration of established and developing markets and the ability to introduce clients to high-caliber, differentiated investments that are not available from more commoditized providers

    Africa banking Dubai investment UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleMorocco Set to Unveil First Islamic Bank and Islamic Insurance Regulation
    Next Article BT and Viva announce telecom interoperability hub

    Related Posts

    Business & Trade Innovation

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023
    Business & Trade Energy Metals & minerals

    Ionic Rare Earths engages DRA Global to advance Makuutu Development

    September 20, 2023
    Business & Trade

    Turkey Exporters Assembly plans Saudi-Turkish trade summit

    September 18, 2023
    Add A Comment

    Comments are closed.

    LATEST STORIES

    Oman’s Duqm Refinery completes start-up

    September 25, 2023

    CYNK – Africa’s first verifiable carbon market launches in Kenya

    September 22, 2023

    Ionic Rare Earths engages DRA Global to advance Makuutu Development

    September 20, 2023

    Turkey Exporters Assembly plans Saudi-Turkish trade summit

    September 18, 2023

    Ugandan agritech startup Emata secures USD 2.4 million in seed funding

    September 15, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.