Japan SBI, Abu Dhabi-based Invest AD to jointly invest USD 100mn in Turkey.

By bne IntelliNews May 25, 2011
Tokyo-based SBI Holding and Abu Dhabi-based Invest AD announce that they decide to establish a private equity fund with a capital of USD 100mn to invest in Turkey and to open an office in Istanbul. SBI Holding is a Hong Kong Stock Exchange-listed and Softbank group company, and Invest ID is a subsidiary of Abu Dhabi Investment Council. Both companies will participate the fund equally with USD 50mn and the new JV will target acquisitions in domestic consumer goods, retail, services, pharmaceuticals and healthcare sectors, the statement of the companies details. Please note that SBI previously invested in local logistics firm Ekol Lojistik in 2009.

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