Saffar Capital (Saffar) announced today it has been recommended by Elaj Medical Services Company (Elaj) to sell its equity stake. Because it considered as financial adviser to Elaj, Saffar successfully operated a purchase to sell a 42% stake of Elaj to NBK Capital, a leading regional investment bank. Mishaal Al-Usaimi, Saffar’s CEO has been nominated to the company’s Board of Directors to serve as an independent board member. He said “We are very excited by this opportunity and are confident it will help Elaj continue on its growth trajectory. Healthcare is an important sector in the region and this transaction demonstrates Saffar‘s capabilities within this high growth sector”.
Dr. Sanad Al-Fadala, Chief Executive Officer of Elaj commented “We are extremely pleased with Saffar‘s standards of professionalism. The group has a strong track record and a depth of experience in structuring complex transactions in a number of regional projects. We believe the new partnership will add value to our business and allow us to successfully continue our expansion throughout the region”. Mishaal further added “Despite the difficult economic environment, we remain focused on helping corporations, financial institutions and family businesses achieve their long-term goals. The scope of this mandate and the quality of the parties involved underscores the value that Saffar brings to clients that want to grow their activities in Kuwait and across the region”.