INTLBM
  • Home
  • Banking & Finance
  • Corporate
  • News
  • Technology
  • Blog
  • Lifestyle
  • News
  • Magazines
  • Events
  • Videos
  • Magazine
  • Awards
  • Nomination
  • Get Listed
  • Submit Article
  • About us
  • Get In Touch
  • Sitemap
Facebook Twitter Instagram
Sunday, April 2
Facebook Twitter Instagram YouTube LinkedIn
INTLBMINTLBM
Get listed
  • BANKING & FINANCE
  • TECHNOLOGY
  • CORPORATE
  • LIFESTYLE
  • NEWS
  • BLOG
  • EVENTS
    • AWARDS 2023
  • AWARDS
  • VIDEOS
  • MAGAZINE
Facebook Twitter Instagram YouTube LinkedIn
INTLBM
You are at:Home » Lesha Bank holds a 27.5 percent stake in Starlink Qatar

Lesha Bank holds a 27.5 percent stake in Starlink Qatar

March 16, 2023
Facebook Twitter LinkedIn Email
Suhaib AlMabrouk, Lesha Bank’s Head of Private Equity and Corporate Banking. Image courtesy: Lesha Bank.
Share
Facebook Twitter LinkedIn Email

Lesha Bank LLC (Public) (the “Lesha Bank” or the “Bank”) announces the purchase of a minority stake in Starlink W.L.L (“the company”) a leading provider of ICT, managed services and retailer of technology products as part of its private equity strategy to expand its footprint in Qatar.

Industry sources added that Lesha Bank has purchased 27.5% stake in Starlink, marking its first deal in 2023 and an exciting addition to the Bank’s Shari’a-compliant private equity portfolio. Launched in 2006, Starlink, is a leading retailer of the latest technology products, mobile, gadgets, and accessories. 

The company has also successfully created its mark in the ICT services sector in Qatar and other regions of GCC. Starlink W.L.L has an omnichannel presence spanning across 19 retail outlets in Qatar, an online platform as well as a variety of other supporting channels that provide outsource-managed services in multiple areas such as: IT, installations, maintenance and contact centers.

Abdulrahman Totonji, Lesha Bank’s CEO

Abdulrahman Totonji, Lesha Bank’s CEO commented: “This investment marks another landmark for Lesha Bank and a step towards increasing the Bank’s private equity offerings. Starlink, with its market presence as a leading retailer of technology products, mobiles and ICT services presents a unique opportunity for local investors. As we look to explore other industries, this acquisition is in line with our investment strategy to access diverse opportunities in the local market, in an innovative and potentially promising industry. We look forward to working with Starlink’s stakeholders and we believe that the company has great potential for growth.” 

Suhaib AlMabrouk, Lesha Bank’s Head of Private Equity and Corporate Banking added: “We are delighted to add Starlink to our growing private equity portfolio. Starlink has a strong focus on client experience and has built a valued business over the years. I am confident in Starlink’s potential and prospects and pleased that we will be their partner on this journey.”

Industry sources further added that the latest deal further boosts Lesha Bank’s presence in the local private equity market. It also comes after recent purchases made in the consumer goods, technology & household electronics sectors reaffirming the Bank’s investment strategy to diversify its exposure.

Source  

More on banks:

UAE Central Bank launches paperless Direct Debit Marketplace

SCCI, Emirates Development Bank collaborate for financial solutions

Zenus Bank and Visa partnership launches for Visa Infinite Debit Card

ICT and Smart Service Solutions intlbm Lesha Bank minority stake Qatar
Share. Facebook Twitter LinkedIn Email
Previous ArticleMEDO 2023 displays latest trends to achieve net-zero emissions
Next Article IPA Qatar partners Knight Frank to lure global Investors to Qatar RES

Related Posts

Incorporation of Artificial Intelligence into Mental Healthcare

March 31, 2023

Sterve announces expansion in Oman

March 31, 2023

Bahwan CyberTek partners SmarterD to support clients in MENA create digital resilience

March 31, 2023
Latest Posts

Incorporation of Artificial Intelligence into Mental Healthcare

March 31, 2023

Sterve announces expansion in Oman

March 31, 2023

Bahwan CyberTek partners SmarterD to support clients in MENA create digital resilience

March 31, 2023

PATRIZIA partners iCapital for expand private wealth offering

March 31, 2023
International Business Magazine
International Business Magazine
About

International Business Magazine is a UAE-based online publishing company with a subscriber base of more than 50,000 that includes investors, C-suite employees, key stakeholders, policymakers and government bureaucrats. We deliver the latest news from the financial world and keenly promote innovative solutions in the industry.
Contact Us: info@intlbm.com

Socials
Facebook Twitter Instagram YouTube LinkedIn
Copyright © 2023. International Business Magazine, LLC. | ALL RIGHT RESERVED.
  • Terms & Conditions
  • Privacy Policy
  • About us
  • Get In Touch

Type above and press Enter to search. Press Esc to cancel.