Interesting news today that HSBC is selling an 80.1 per cent stake in its Dubai-based operation HSBC Private Equity Middle East for an undisclosed sum to its current management team.
They are buying it back, having sold out to HSBC more than a decade ago. One can only speculate on the reason why. A fair guess must be that the bank and the management team sharply disagree over their future business plan. HSBC Private Equity Middle East has $480 million under management.
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