Founded in 1985 and incorporated in Luxembourg, the Group's early shareholders included Alex Brown & Sons, Banque Kleinwort Benson S.A., Kredietbank, S.A. Luxembourgeoise, BHF Bank Group, Arab Reinsurance Group (Bahrain), National Investments Co.(Kuwait), and State Street Research and Management Co., as well as other institutional and individual investors in the Middle East. In 1996, members of the senior management team acquired the Group.

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