Additional Information


LMG boosts stake in Middle East rewards company to 60%

LONDON - Loyalty Management Group has spent £5.3m to boost its stake in the Gulf-based loyalty marketing company, Rewards Management Middle East, to 60%.

Share this article

Rewards Management Middle East, which operates travel reward programmes in Qatar, United Arab Emirates and Bahrain, is 40% owned by HSBC Holdings.

It was founded in 2000 by LMG, HSBC and Al-Seer, the Dubai-based owners of the local Spinney's supermarket chain. LMG acquired the additional stake in the business from Al-Seer.

LMG was itself acquired by Canadian firm Aeroplan in December for a reported £368m.

LMG said its Air Miles Middle East programme was currently receiving 15,000 new applications a month, and that increasing its stake in Rewards Management Middle East would help extend the reach of its global loyalty programme.

Alex Moorhead, chief executive officer at LMG, said: "LMG looks forward to continuing its strong relationship with HSBC and working more closely with the RMME management team to consolidate its loyalty leadership position in this fast-growing region."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

Back to top ^