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NBK Capital acquires 50% stake in Bavet

NBK Capital, the investment arm of the National Bank of Kuwait, has acquired a 50% stake in Turkish animal pharmaceutical distributor Bavet. The investment was made through the firm's 'Capital Equity Partners Fund,' which closed in 2006 with commitments of $250m. "Our active ownership approach, reinforced by our local presence in Turkey and close partnership with the current management team, will accelerate the growth trajectory of the company," said Amjad Ahmad, senior managing director at NBK Capital. "Bavet's strong brand and leadership position will allow it to better capitalise on growth opportunities in Turkey and the surrounding region."