(Reuters) Dubai-based Samena Capital will purchase a significant equity stake in Kleinwort Benson‘s U.K.-based private bank unit, the private equity firm said on Tuesday.
The transaction involving Kleinwort Benson Bank, which offers private banking and corporate advisory services, will be completed by the third quarter of this year, a statement from Samena said. It did not disclose the deal value.
After the deal completion, Samena intends to set up new global merchant banking operations in Dubai under the Kleinwort Benson Bank brand.
Samena Capital, focused on the Subcontinent, Asia, the Middle East and North Africa, has a portfolio of $750 million.