Investcorp buys stake in Saudi supermarket group

Dubai

INVESTCORP has acquired a minority stake in Saudi Arabia's Bindawood Holding, which controls supermarket chains Bindawood and Danube in the kingdom, according to a statement from the alternative investment firm on Sunday.

While the statement did not disclose either a value for the transaction or the size of the stake purchased, two sources with knowledge of the deal said it was Investcorp's largest ever investment in the Middle East.