Bahrain investors bought $20 million stake in IT consultancy firm

Capinnova Investment Bank, the investment banking arm of BBK (Bank of Bahrain and Kuwait), announced a minority investment of $20 million in EBLA Computer Consultancy, an IT consultancy provider in the MENA region.

EBLA currently has subsidiaries in Qatar, UAE, Saudi Arabia, and Egypt and branch offices in Syria, Jordan and Bahrain. Capinnova Private Equity focuses on opportunities of investing in medium-sized companies. It has an authorized capital of $500 million and a paid-up capital of $151 million. The Bank's core areas of business include private equity, asset management and corporate finance.

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More details from their release follows