HSBC is selling its Middle East private equity arm, HPEME, to the current management for 3.4m dollars.
HPEME was established in Dubai in 2002 and has funds under management of approximately $480m, with investments in 18 businesses.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Napoleon’s bicorne headgear, the original MAGA hat, could fetch €800,000Collectables Napoleon would not be out of place in Trump’s America, says Chris Carter
-
'We face a £6m inheritance tax bill under Reeves's changes – it's sheer terror'Thousands of families fear they’ll have no option but to look at selling their firms in a fire sale to pay inheritance tax bills, due to Rachel Reeves’s changes to business property relief
