Foursan Group Completes Investments in Shamsuna Power, Nafith Logistics and National Bank of Iraq (MENA)

Source: Foursan Group

Foursan Group, a private equity firm primarily focused on the Middle East, has completed investments in Jordan-based solar energy project Shamsuna Power, Jordan-based freight management company Nafith Logistics and Iraq-listed private sector bank National Bank of Iraq (NBI). The transactions were structured through Foursan Capital Partners I. Foursan now holds an 85 percent stake in Shamsuna Power, which obtained a license to build, own and operate a 10 MW electricity generation plant. Nafith, in which Foursan and International Finance Corporation together acquired a majority stake, signed contracts with the Government of Iraq to manage a port and two border crossings. In NBI, Foursan and a consortium of investors took a minority position as part of a capital increase to support NBI’s growing investments in areas such as human resources. Financial details of the transactions were not disclosed.