QInvest advises consortium for Chinese acquisition

February 17, 2013 - 4:55:31 am

DOHA: QInvest LLC, Qatar’s leading investment bank, is advising a consortium of investors led by the Kingdom Holding Company (KHC)  for the acquisition of a strategic stake in 360Buy Jingdong Inc, the Chinese online retailer, for the value of SR1.5bn.  The investment by KHC in this deal was approximately SR470m.

Ahmed Halawani, Executive Director, Private Equity and International Investments, said: “This deal confirms KHC’s expertise to seek rewarding global investment opportunities, and to capitalize on them in light of their potential IRR in order to extract value for KHC shareholders.”

Halawani added: “This deal is also in line with Kingdom Holding’s private equity investment strategy through selecting high growth companies potentially seeking to be listed in one of the international capital markets within three years. The deal also reflects international companies’ confidence in Kingdom Holding and the strategic role it plays in adding real value to their shareholders base.”

Prince Alwaleed bin Talal, Chairman of KHC,  said: “We are pleased to fortify our investment and business ties with QInvest.” The Founder and CEO of 360buy Jingdong Inc, Richard Liu, said:  “We appreciate Kingdom’s support and we look forward to a long lasting and constructive relationship.”

This acquisition is in line with Kingdom Holding’s diversified and unique investment strategy following Prince Alwaleed and Kingdom Holding’s combined investment of $300m in Twitter.

The Peninsula