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Bahrain's Investcorp says to buy 3i's debt-management business

Reuters

DUBAI (Reuters) - Bahrain-based private equity investor Investcorp (INVB.BH) has agreed to acquire the debt-management business of Britain's 3i (III.L) for 222 million pounds, it said on Tuesday.

The proposed transaction will add $12 billion to Investcorp's assets under management (AUM), bringing the Bahraini company's total AUM to $23 billion, and will be fully funded by the company's existing balance sheet.

Investcorp said it does not plan to seek debt capital or further equity investment for the transaction.

(Reporting by Hadeel Al Sayegh; Editing by David Goodman)