The Gulf Islamic Investments Company (GII), which oversees nearly $ 2 billion asset, is gearing up for its biggest deal as it seeks to ramp up investment in Saudi Arabia and India and consider the listing over the next three years.
Co-founder Mohammed Al-Hassan said Gulf International has in plan to buy a stake in a Saudi health company for about $ 600 million, refusing to give specific details. He revealed that the goal is to pump around $ 1 billion into the Kingdom over the next 18-month year, with investments also aimed at logistics and cloud kitchens.
In an interview with Bloomberg, Al-Hassan added: “We go where there is money and where there are deals. We have great faith in Saudi Arabia.”
Investors are increasingly interested in Medicare as the global population ages and as the health sector prepares to address the backlog of arrears caused by the coronavirus pandemic. The industry has also emerged as a kind of safe haven for businessmen during the global epidemic.
Rising life expectancy and an aging population have also increased the demand for health care in Middle East. Gulf governments are spending more on providing medical services to their citizens as hospital workers try to keep pace with population growth.
GII’s biggest deal to date has been a joint venture venture with Capital Bay GmbH to invest 500 million euros (589 million dollars) in large residential properties in Germany and in other European markets.
Headquartered in the UAE, Gulf Investments is a Shariah compliant company focused on investments in alternative assets such as real estate, venture capital e private equity. Al-Hassan said more than half of its shareholders are Saudis.
For his part, co-founder Pankaj Gupta said Gulf Investments is also focusing on the Indian market, in which the total value of the company’s healthcare investments has doubled in the past two years, as the company plans to expand its investments in India. In the private equity.
GII is also discussing the possibility of selling an approximately 15% stake through an initial public offering over the next three years and plans to increase its equity. in management at $ 5 billion at the time of listing.
Gupta said the purpose of the IPO was to raise capital to finance the company’s growth. He added: “We are also open to Saudi Arabia, the United Arab Emirates and the UK for an IPO.”
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