Kuwait’s NBK Capital Acquires 50% Shareholding in Turkey’s Bavet

NBK Capital, the investment bank owned by National Bank of Kuwait SAK, said it acquired a 50 percent stake in Bavet, a distributor of animal pharmaceuticals in Turkey.

“The capital will be used to finance Bavet’s significant expansion plans and enhance its corporate infrastructure,” NBK Capital said in an e-mailed statement today. It did not disclose the value of the deal.

To contact the reporter on this story: Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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