VOL. XLII

No 42

18-October-1999

GENERAL

First Islamic Acquires Controlling Interest In DVTCorporation

Bahrain based First Islamic Investment Bank announced on 9October that its affiliates had acquired a controlling interest in DVTCorporation (DVT), a leader in its field. DVT develops, manufactures andmarkets inspection devices for prominent industrial giants including GeneralMotors and Ford Nissan. The transaction value was approximately $64mn and wasfinalized on 7 October. The acquisition...