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Investcorp acquires 30% stake in Saudi car rental firm

Bahrain-headquartered Investcorp has announced that its Gulf Opportunity Fund has acquired a 30% stake in Saudi-based Theeb Rent a Car Co, Times of Oman has reported. As part of the agreement, the fund will be represented on Theeb's board and will play an active role in key decisions which will include both governance as well as future exit strategies. "We will work closely with the Theeb management team to help grow the business. This is the fund's tenth investment in the region and its fourth in Saudi Arabia," said Investcorp president, Mohammed Al Mohammed Al Shroogi.