Investcorp buys Austrian online firm for US$178 million
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Mon July 2, 2012 9:51 am



Run MS Office Pro
2010 on latest Win7
Ultimate OS to
increase your
business confidence




Buy HP Pavilion
 laptop with Corsair
DDR3 RAM for
superb performance




Need a personal loan
in Dubai? Contact
Citibank UAE for all
of your banking needs




Find real estate for
sale or rent in Middle
East on Properties
in Middle East


Buy China Electronics
Products at
Wholesale Price


Free Shipping


vestidos de fiesta


DinoDirect


Buy Twitter Followers


Wasserhahn & Duschen


Handgiftbox


dhgate

BAHRAIN. Investcorp, a Bahrain-based investment firm, said on Sunday its online portfolio unit Skrill bought Austrian firm paysafecard.com for up to 140 million euros (US$177.67 million), betting on growth in online retail sector.

Paysafecard provides prepaid electronic payment services and the acquisition is Investcorp's fifth investment in Europe in the past six months, the Bahraini firm said in a bourse statement.

"Prudent investors are finding golden opportunities that have emerged post the Eurozone crisis, as reflected in our five acquisitions so far this year," Mohammed Al-Shroogi, Investcorp's president for Gulf business said.

Venture capitalists invested a record $2.39 billion in online retail in 2011, according to Thomson Reuters data, more than double the amount in 2010.

Skrill, formerly knows as Moneybookers, provides global online payments services.

The combined group will potentially have 27 million end-users and over 100 different payment options, the statement said.

Investcorp, which once owned luxury brands Gucci and Tiffany & Co, last month signed up to a $504 million-equivalent loan aimed at refinancing debt due in 2013.

The company had around $11.6 billion in assets under management as at December 31, 2011.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: June 19, 2013
INTERNATIONAL. Year-to-date, the gold futures have corrected 18.43% to US$1,367 while the CRB Commodities Index dropped 2.91% and the Dollar Index rose 1.06%.
date:Posted: June 19, 2013
UAE. Jones Lang LaSalle report assesses the region's response to the global debate surrounding the environmental, economic and social sustainability of the built environment.
date:Posted: June 18, 2013
INTERNATIONAL. Global emerging market equity allocations at lowest since 2008; A net 56% of global investors believe the world economy will strengthen over the coming year, up from a net 48% in May.



Wide selection of craft tools and coloured pencils will give more options to your creative side


Doing business in the Middle East? Your starting point is GulfTradeHolding, the Middle East Business Directory