Qatar’s Lesha Bank LLC (Public) has successfully exited from the UK-based David Morris International Limited, with a transaction that valued the business at GBP 70 million ($90.3 million).
In 2014, Lesha Bank acquired a 50 percent stake in David Morris International Limited to support the company for expanding its footprint. This strategic acquisition also supports the bank’s efforts to reallocate resources towards ventures, highlighting its evolving strategic goals.
As a 50 percent shareholder, Lesha Bank realized exit proceeds of GBP 35 million ($45.15 million), representing a profitable return on investment (ROI). This also falls in line with the strategic objectives of Lesha Bank to optimize its portfolio for greater efficiency.
Mohammed Ismail Al Emadi CEO – Lesha Bank
“This successful exit not only highlights our commitment to achieving substantial returns but also our strategic foresight in managing and realigning our investment portfolio. The sale of our stake in David Morris International Limited, a noteworthy asset within our diverse portfolio, allows us to reinvest in new opportunities that promise higher alignment with our strategic goals.”
Suhaib AlMabrouk, Head of Private Equity & Corporate Banking at Lesha Bank, stated that, “David Morris International Limited has been a valuable part of our portfolio, representing a unique position in the luxury retail sector with considerable growth potential. Our successful exit is a testament to our disciplined investment approach and our focus on ensuring sustainable profitability and growth. We continue to explore new investment opportunities that will enable us to maintain and enhance our market presence and ensure continued value creation for our stakeholders.”
David Morris International Limited, established in 1962, is a leading international luxury jewelry brand headquartered in the UK. In addition to this, it operates in France and the UAE and maintains franchises in Qatar and Kuwait. The company is known for its exquisite collections and elite clientele, including royalty and high-net-worth individuals from Europe, Asia, and the Middle East.
Lesha Bank LLC (Public) is the first independent Shari’a-compliant Bank authorized by the Qatar Financial Centre Regulatory Authority (QFCRA) and an entity listed on the Qatar Stock Exchange (QSE: QFBQ).
