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Sources: NBK Capital appoints Perella Weinberg Partners for asset sale

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April 14
2:28 PM 2014

NBK Capital has appointed Perella Weinberg Partners LP to be its adviser for an upcoming stake sale in a consumer finance firm based in Saudi. This was according to two sources that were familiar with the matter, reported Bloomberg.

The sources said that NBK Capital has been looking out to sale 38 percent of its holdings in Nayifat Financing Co. The same sources added, while speaking in condition of anonymity as the matter was held private in nature, that private equity firms and non-Saudi banks located in the Middle East have expressed interest in purchasing the stake sold by NBK Capital. The sources did not name potential buyers for the deal, reported Bloomberg.

Saudi Arabia, the Gulf’s biggest economy, has now hastened up after financial markets have rebound and economic growths are displayed through mergers and acquisitions.

NBK Capital did not comment regarding the report. New York based Perella Weinberg also declined to comment while Nayifat officials could not be contacted to affirm the report, said Bloomberg.

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