Saudi Arabia’s Hanco Buys U.A.E.’s Byrne for $163 Million
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Hanco, a Saudi Arabian auto rental company, said it acquired U.A.E.-based Byrne Investments from a private-equity group previously owned by HSBC Holdings Plc for 600 million dirhams ($163 million).
Hanco, majority-owned by closely-held Bin Sulaiman Holdings, is buying Byrne’s equipment rental operations and modular building services business from Dubai-based Havenvest Private Equity Middle East Partnership, it said today in a statement.