Alfardan denies holding talks with investors over jewellery business

26 August 2008
Omar Alfardan, president of Qatar’s Alfardan Group, has denied that he is in talks with a group of regional investors seeking to invest SR1bn ($267m) in the expansion of the group's jewellery subsidiary.

In late July, sources close to a consortium of regional investors said they were looking to put additional capital into Alfardan to finance a major expansion of its jewellery operation in Saudi Arabia (MEED 30:7:08).

The potential investors included investment funds, regional banks and other regional jewellery retailers.

However, Alfardan now says that no talks are taking place about such a deal.

“This [the new investment] has not been talked about and we have not appointed financial advisers," says Alfardan. "We are not interested in selling any of our businesses."

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications