Foursan Group Exits Jordan Dubai Islamic Bank (MENA)

Source: Foursan Group

Middle East-focused private equity firm Foursan Group has sold its stake in Amman Stock Exchange-listed Jordan Dubai Islamic Bank (JDIB) to Jordan-based Bank Al-Etihad, realizing a reported 2.5x gross multiple of invested capital. Foursan originally invested in JDIB in 2012 through Foursan Capital Partners I. Financial details of the transaction were not disclosed.