Business
Bahrain-based Investcorp to invest $100 mln in communications firm SEC Newgate
Middle East alternative asset manager Investcorp said on Monday it had agreed to invest around $100 million for a majority stake in communications and advocacy group SEC Newgate.
The deal values Milan-based SEC Newgate, which has around 1,200 employees and operates in 22 countries, over $250 million, according to the statement.
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SEC Newgate’s other shareholders will roll over 100 percent of their equity investment as part of the transaction, according to an Investcorp press release.
“Investcorp’s investment will help SEC Newgate accelerate its development strategy, with a focus on expansion in EMEA and the APAC region through both organic growth and M&A,” the Bahrain-based investment firm said.
With Reuters
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