ACT airlines stake bought by Manara Investments

ACT airlines is an Istanbul based cargo carrier owned by Dallas-based HBK Investments and Turkish businessmen Yavuz Çizmeci and Cankut Bagana. Manara capital, which was founded in 2005 by a group of 4 Saudi businessmen has bought 21% equity stake in ACT for an undisclosed sum.

One thing I've noticed over the past few days while looking up capital firms in the region is that rarely do they have a web presence and if they do, it ends up being a poorly done site. Take the case of Manara. After several minutes of googling and stumbling on three companies with the same name, it turned out that none of them were remotely close to the saudi group.

Ofcourse we re not here to critique on site design (or lack of it)-but it does help getting to know an firm and the array of portfolio that it involves itselfs with.