Gulf Capital plans to sell remaining stake at Gulf Marine Services after raising $600m in IPO | The National

Gulf Capital plans to sell remaining stake at Gulf Marine Services after raising $600m in IPO | The National:



"Gulf Capital plans to sell off the remainder of its stake in Gulf Marine Services over the next two years after generating gains of more than US$600 million through the firm’s initial public offering.



Through its buyout fund, Gulf Capital reduced its shareholding in GMS from 80 per cent to 49.7 per cent last week through the offshore contractor’s IPO on the London Stock Exchange.



The deal marks one of the most lucrative private equity exits in the Middle East and gives a fillip to the region’s fledgling buyout industry."



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