United Arab Emirates-based oil service vessel operator Gulf Marine Services (GMS), which is backed by alternative investment firm Gulf Capital, has debuted on the London Stock Exchange. The company priced its initial public offering at the bottom of a range it had offered investors, giving it a market capitalization… Read More
Emerging Capital Partners (ECP), a private equity firm focused on growth capital investing in Africa, has acquired a 33 percent stake in Atlas Bottling Corporation (ABC), the PepsiCo bottler of carbonated soft drinks in Algeria, as part of a US$80 million investment plan. The transaction involved a mix of… Read More
The private equity arm of Egyptian investment bank EFG Hermes has sold a 19 percent stake in United Arab Emirates-based jeweler Damas International to Qatar-based trade and services conglomerate Mannai Corporation for US$150 million. EFG Hermes and Mannai had acquired Damas in a transaction worth US$445 million in May… Read More
Global growth markets investor The Abraaj Group has signed an agreement with the controlling shareholders of Egypt-based education group Cairo for Investment and Real Estate Development to issue a mandatory tender offer on the Egyptian Stock Exchange to acquire 100 percent of the company’s shares. The price per share… Read More
In keeping with our monitoring of issues in both emerging markets and the developed markets that so often shape reforms elsewhere, this tenth issue of the EMPEA Legal and Regulatory Bulletin looks at developments impacting investors in South Asia, the Middle East, China and Europe. Orrick, Herrington & Sutcliffe’s John… Read More
Since the removal of the Morsi-led government from power in July 3, 2013, Egypt has started on a path of istikrar, istismar and istilam—stability, enhancement of entrepreneurship, and safety and security of the state—that should bolster Egypt’s economy. The EGX30, Egypt’s key share index, hit a three-year high in early… Read More
Venture capital firm Hummingbird Ventures has invested US$1.2 million in a venture financing round for United Arab Emirates-based financial comparison site Souqalmal.com. The site provides an interface for users to view and compare a range of financial products, including credit cards, loans and cars. With the new financing, the… Read More
Emerging Capital Partners (ECP), a private equity firm focused on growth capital investing in Africa, has exited Société d'Articles Hygiéniques (SAH), a feminine and baby hygiene products manufacturer, following the company’s listing on the Tunis Stock Exchange. The offering, which closed on December 23, 2013 after two days of… Read More
Private financial services group Swicorp has invested in Jordan-based health and fitness club management business Fitness House Company (Fitness One). The transaction was structured through Swicorp’s Intaj II vehicle. Fitness One owns and operates fitness centers, including six women-dedicated fitness centers, and “Vega” centers offering diving, rock climbing and… Read More
The Global Firms’ Views Koenraad Foulin, Co-Founder and Senior Managing Partner, Capital International Private Equity Funds For Capital Group, 2013 was a year to invest beyond the BRICs. Our 2011 fund, CIPEF VI, completed four new investments—three of which were in emerging markets outside the BRIC countries. We made our… Read More
(default archive template)