Standard Chartered private equity strikes first deal in Middle East

Standard Chartered invests $75 million of mezzanine capital from its private equity arm into Gulf retail store operator Jawad Business Group, signalling an increasing focus on the region.

Standard Chartered private equity has invested $75 million of mezzanine capital in Hassan Mohammed Jawad Sons, a family-owned private company based in Bahrain, marking the bank’s first proprietary investment in the Middle East.

Hassan Mohammed Jawad Sons, also known as the Jawad Business Group JBG, is a diversified mid-market retailer with operations primarily in the markets covered by the Gulf Cooperation Council GCC. It has an operating history of more than 50 years.

JBG has built a retail business spanning 660 stores spread across the six GCC countries -- Bahrain, the United Arab Emirates, Qatar, Kuwait, Saudi Arabia and Oman. It also has stores in India and distribution centres in Bahrain...

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