Abu Dhabi-based leading investment company Waha Capital has made a $50 million investment in Despegar.com, a leading NYSE-listed company in the online travel sector.
The new investment which is an addition to Waha’s $150 million investment program initiated in May for US-listed companies, supports the investment company’s growth strategy for its Private Investments portfolio.
As part of the investment, Waha Capital will also appoint a representative to the company’s Board of Directors.
As part of its arrangement, Waha Capital will invest in series B preferred shares convertible into ordinary shares for an aggregate purchase price of US$50 million.
Amr AlMenhali, CEO – Waha Capital
“As was evident in our recently announced first-half financial results, we are pursuing a vigorous turnaround strategy to position Waha Capital for renewed growth in the coming years. We are confident that investments such as the one we are making in Despegar will put us on a firm footing to deliver significantly higher future returns for our shareholders as we successfully navigate past the impact of COVID-19 and look to the future. We are excited about our investment in Despegar.com, a leading technology company focused on the travel sector, with a best-in-class platform, established brand leadership, and a high-quality management team.”
The investment in Despegar.com, which is listed on the NYSE, further diversifies Waha Capital’s investment portfolio into both a new sector and a new region.
Despegar.com
Despegar is the leading online travel company in Latin America, and one of the most recognized brands in the region.
The organization offers consumers an expansive selection of options, and its partners and travel suppliers, a comprehensive and innovative technology platform for managing the distribution of their products. The company offers a unique combination of broad product offerings and flexible payment capabilities, making it the platform of choice with the highest market share in the region.
Capital Investments at Waha Capital
Waha Capital’s Private Investment business invests in a diverse range of sectors including technology, healthcare, energy, financial services, infrastructure and industrial real estate. The business continues to focus on identifying new investments, with the potential to realize long-term returns for Waha Capital shareholders.
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