Bahraini Investcorp net profit drops 28 percent in 2001
The Bahrain-based Investcorp investment group recently announced that its net profits dropped 28.4 percent, to $50 million in the year 2001. The holding company attributed the loss to the recession in the United States and the slowdown in Europe grinding to a halt merger and acquisition activities, reported AFP.
Investcorp acts as a principal and intermediary in international investment transactions. The firm has offices in Bahrain, New York and London and specializes in facilitating the flow of capital from individual and institutional clients in the Arabian Gulf into investments in the United States and Western Europe.
Founded in 1982, Investcorp has finalized over 90 corporate and real estate transactions with an aggregate acquisition value of approximately $19 billion. The Firm's income results for 2000 were $70 million, participating in seven corporate and 22 real estate acquisitions, corporate investment and real estate exits. The Group received $862 million worth of new client investments in 2000 and launched a technology investment line of business in the same year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)