Lesha Bank LLC (Public) has successfully executed its divestment from David Morris International Limited, a renowned luxury jewelry brand, in a transaction valuing the enterprise at GBP 70 million. The sale of Lesha Bank’s 50% stake yielded GBP 35 million in proceeds. This move aligns with the bank’s strategic realignment of its investment portfolio, focusing on optimizing returns and increasing efficiency. David Morris International, founded in 1962 with headquarters in the UK, operates privileged stores globally and caters to an elite clientele. Both CEO Mohammed Ismail Al Emadi and Head of Private Equity & Corporate Banking Suhaib AlMabrouk have emphasized the bank’s strategic precision and forward-looking investment strategy through this divestment. Lesha Bank continues to explore new investment avenues consistent with its objectives for growth and profitability.
Banking and Financial Services, Luxury Goods, Retail,Qatar, United Kingdom, France and UAE, Qatar and Kuwait
https://www.zawya.com/en/press-release/companies-news/lesha-bank-announces-successful-exit-from-david-morris-international-limited-qwpug7o0