Gulf One etablishes new office in Munich
Manama, April 2, 2012
Gulf One Investment Bank has announced that it has established a new office, Gulf One GmbH, in Munich, Germany.
Gulf One GmbH, a wholly owned subsidiary of Gulf One, will support the management of portfolio companies of the bank’s private equity funds and source new investments and advisory business opportunities for it.
The new office will be supported by Gulf One’s private equity, structured finance, advisory and business development teams located in its offices across the GCC, said a statement.
GmbH managing director, Günter Pröpster, will provide local clients with on-the-ground presence and access to Gulf One, the statement said.
Dr Nahed Taher, co-founder and CEO, said: “Gulf One identified Germany as a strategic centre to conduct international business in Europe as it holds one of the world’s strongest national economies. Germany is a global leader in many sectors of interest to Gulf One and the Mena region. It is already engaged in sectors like automotive, aviation, healthcare and heavy industry such as steel.”
Since its inception, Gulf One, has been investing in infrastructure globally, with focus on ten main industries; water, oil and gas, petrochemical, education, communication, transportation, mining, clean energy, power and healthcare.
The establishment of Gulf One GmbH marks a time of great momentum for Gulf One’s activities in Europe and the DACH region where the bank has two private equity funds under management with a total net asset value (NAV) in excess of euro 80 million.
Ziyad F Omar, co-founder and CIO, said: “In Germany, Gulf One has given special focus to the Mittelstand small and medium-sized enterprises (SME). Gulf One can support this sector not only through capital infusion but by forming true partnerships that will facilitate opening markets augment, manufacturing capacity and expedite the commercialisation of products and services. German Mittelstand companies are a significant store of Germany’s Intellectual Property ( IP) and knowledge.”
“Of the 3.5 million companies in Germany, 98 per cent are Mittelstand companies with a recognised potential for investors. The companies continue to employ 70 per cent of Germany’s workforce and contribute to 50 per cent of its GDP,” Pröpster said. “Our German office will help enhane relationships with the business community and create new opportunities in both the DACH and Mena regions.” – TradeArabia News Service