News Releases: Citadel Capital and its Platform Investments
January 21, 2012
Citadel Capital Platform Company Gozour embarks on a new phase of organic growth as Hatem Saleh, its new CEO for dairy, focuses on integration and maximizing synergies at dairy portfolio companies Dina Farms, Enjoy and El-Misriyeen ... [more]
January 26, 2012
The myriad global challenges now faced by business and policymakers alike are daunting, but a look beyond the headlines shows there are unique opportunities to lay the foundation for sustainable global growth by building real businesses that address the needs of a massive, fast-growing emerging markets population, the founder of Africa’s largest private equity firm said today in Davos, Switzerland.... [more]
January 12, 2012
The Middle East and Africa’s leading private equity firm increases its stake in Wafra, a commercial farming investment covering both Sudan and the Republic of South Sudan... [more]
January 09, 2012
The agreement to sell is the first of several transactions that will see Citadel Capital rationalize its portfolio by divesting non-core assets; offers significant upside potential to both Citadel Capital and its limited partners. ... [more]
December 25, 2011
Despite a challenging regional environment, Citadel Capital raises new equity and debt of US$ 265 mn for platform and portfolio companies while the firm’s standalone loss narrows 17.3% quarter-on-quarter to US$3.5 million (EGP 20.7 million). Citadel Capital added US$ 175.6 mn in long-term capital in October’s rights issue and is now finalizing US$ 150 mn [...]... [more]
November 30, 2011
Home to the world’s fastest-growing working-age population and a massive untapped consumer market, Africa’s solid fundamentals promise outstanding investment opportunities to pioneering private equity investors, senior industry veteran says... [more]
November 17, 2011
Citadel Capital is pleased to announce that Citadel Capital Partners (CCP), the vehicle through which Citadel Capital’s executive committee holds its equity in the firm, has transferred today circa 40 million shares in settlement with strategic investors. ... [more]
November 12, 2011
Leading private equity firm set to accelerate growth of existing platform companies and consider new opportunities as it seeks to add nearly EGP 2 billion to its balance sheet with US Overseas Private Investment Corporation (OPIC) facility and recently completed rights issue... [more]
November 02, 2011
Citadel Capital Managing Director tells LP’s at PEI’s Emerging Markets Forum how the Middle East and Africa’s leading private equity firm managed to raise over US$ 300 million of long-term capital despite challenging global and local market conditions... [more]
October 24, 2011
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), the leading private equity firm in the Middle East and Africa, announced today its standalone financial results for the second quarter of 2011, reporting a stable base of total assets under management (AUM) at US$ 4.1 billion quarter-on-quarter. That figure represents an 8.1% rise year-on-year.... [more]
October 19, 2011
Funds strengthen balance sheet of leading regional private equity firm heading into a transformative 2012... [more]
October 19, 2011
The co-founder of Africa’s leading private equity firm tells industry veterans how the firm raised US$ 234 million for the national railway of Kenya and Uganda despite challenging global financial conditions — a development that should lower transport costs and promote trade in the East African Community... [more]
October 10, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange) issued an invitation today to all shareholders as of close-of-session on 25 August 2011 to participate in the second round of its EGP 1.05 billion capital increase via rights issue at par. Shareholders may subscribe on a non-pro-rata basis to 122,391,173 shares left after the first round.... [more]
October 05, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange) announced today the results of the first call for subscriptions to its EGP 1.05 billion capital increase via a rights issue raising the firm’s capital to EGP 4,358,125,000 from EGP 3,308,125,000. Total number of shares offeredwere 210,000,000 shares (157,500,000 common shares and 52,500,000 preferred shares), all at a par value of EGP 5 per share.... [more]
September 22, 2011
Citadel Capital Managing Director Stephen Murphy says infrastructure investments are a key driver for growth in Africa... [more]
September 21, 2011
Clarification from Citadel Capital SAE Regarding the Current Call for Subscription to its EGP 1.05 billion Capital Increase via Rights Issue at Par... [more]
September 11, 2011
Five leading international investors, including development finance institutions, fully subscribe to capital increase for Africa Railways; proceeds will be used to fund Rift Valley Railways of Kenya and Uganda. Citadel Capital extends track record of winning significant investment from global institutions.... [more]
August 25, 2011
Citadel Capital has concluded a memorandum of understanding (MOU) with the Petroleum Ministry of Iraq to build a 150,000-barrel-of-oil-per-day (BOPD) complex petroleum refinery in Iraq. ... [more]
August 15, 2011
Contrary to a recent report carried by the German Press Agency (DPA), Citadel Capital Chairman and Founder Dr. Ahmed Heikal is not subject to a travel ban.... [more]
August 15, 2011
ASEC Engineering, a Portfolio Company of ASEC Holding, has signed three 5-year contracts to manage new cement plants that will create over 750 jobs in Egypt’s Qena, Beni Suef and Assuit governorates... [more]
August 10, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange) issued today a call for subscriptions to the EGP 1.05 billion capital increase via a rights issue recently approved by the firm’s shareholders at an Extraordinary General Meeting. In accordance with Egyptian securities law, this call for subscriptions was released today in two national newspapers and in the Arabic language.... [more]
August 03, 2011
Shareholders of Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa, approved an EGP 1.05 billion rights issue at par at an Extraordinary General Meeting held today in Cairo. ... [more]
August 02, 2011
Rift Valley Railways of Kenya and Uganda, a subsidiary of Citadel Capital Platform Company Africa Railways, wins financing from six leading global development finance institutions and a leading Kenyan bank for a five-year capital expenditure program to rehabilitate infrastructure and rolling stock... [more]
July 26, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa, issued the following statement today... [more]
July 20, 2011
Citadel Capital Platform Company Africa Railways announces that its subsidiary RVRI has achieved a positive EBITDA for the first time in its recent history; African Development Bank (AfDB) has approved a US$ 40 million loan to finance RVRI.... [more]
July 17, 2011
Limited partners honor contractual commitments, seeing Citadel Capital add AUM in 1Q11 and attract new investment from international institutional LPs in the months since. Citadel Capital Board has approved EGP 1.05 billion rights issue to support its growth plans ... [more]
July 14, 2011
The Extraordinary General Assembly of the leading private equity firm in the Middle East and Africa will meet to approve a US$ 175 million rights issue to support current platform and portfolio companies as well as future investments... [more]
July 12, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange) the leading private equity firm in the Middle East and Africa, announced today that it has engaged Citigroup Global Markets Limited, to act as the Firm’s financial advisor on available strategic alternatives as well as potential sale offers.... [more]
July 04, 2011
Wafra completes its first commercial harvest of over 3,000 feddans (3,114 acres) of wheat and continues to develop additional land on its two leased plots in North and South Sudan... [more]
June 29, 2011
The fund controlling Citadel Capital’s Egyptian river transportation investments — which operates an environmentally friendly network of ports and highly fuel efficient barges in the Arab world’s most populous country — has attracted fresh investment from Germany’s DEG and the European Investment Bank.... [more]
June 28, 2011
While developed markets and certain “mainstream” emerging markets receive the most attention, investors seeking outsized returns in the decade ahead need to look beyond the usual suspects... [more]
June 21, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa with US$ 8.7 billion in investments under control, issued the following statement today: ... [more]
June 19, 2011
Citadel Capital’s Sudanese oil exploration platform to accelerate prospecting and drilling program for the coming 12 months ... [more]
June 16, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa with US$ 8.7 billion in investments under control, issued the following statement today:... [more]
July 15, 2011
The Citadel Capital Scholarship Foundation, which provides financial assistance for talented young Egyptian students who wish to study at elite universities worldwide, has awarded more than 80 scholarships to date... [more]
June 08, 2011
Citadel Capital SAE (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa, issued the following statement today in light of reports that it is in talks with a suitor with regard to a potential stake sale:... [more]
June 01, 2011
Leading private equity firm in Middle East and Africa reports US$ 363.6 million in new assets under management in FY10 and sharp reduction of execution risk as it adopts a conservative position for 2011 in light of recent national and regional developments... [more]
May 22, 2011
Citadel Capital will legally contest the Egyptian Financial Supervisory Authority’s decision to deny permission for a rights issue at par.... [more]
May 16, 2011
Citadel Capital is the number one private equity firm in Africa and among the top ten emerging market firms according to Private Equity International magazine’s 2011 rankings... [more]
May 11, 2011
At the IFC’s annual gathering of international private equity leaders in Washington, DC Citadel Capital SAE says that the global competitiveness of the Arab world’s most diverse economy is set to rise in the long term ... [more]
April 19, 2011
Karim Sadek, Managing Director at Africa’s largest private equity firm, says regional integration and financial sector advances are set to spark a new era of business growth across East Africa... [more]
April 14, 2011
Citadel Capital (CCAP.CA on the Egyptian Exchange) issued the following statement today... [more]
April 11, 2011
The global competitiveness of the Arab world’s most diverse economy is set to rise with the decline in long-term political risk... [more]
April 03, 2011
The IFC joins Sphinx Private Equity Management and Grandview, Citadel Capital’s small and mid-cap investment portfolio company, to finalize the debt and equity financing for the completion of environmentally-friendly paper mill that will create 850 jobs and ease Egypt’s reliance on imports... [more]
March 28, 2011
Regional private equity investment is helping support and lead regional integration, Citadel Capital Managing Director Karim Sadek tells government and private sector officials at the 4th COMESA Investment Forum in Dubai... [more]
March 27, 2011
ASCOM Precious Metals Mining (APM) announces encouraging indications of gold mineralization from its initial 17 drill holes at the Asosa Concession in Western Ethiopia... [more]
March 22, 2010
Citadel Capital tells a top industry gathering in New York that despite the civil unrest that has swept through the region during the past few months, the positive fundamentals that created the MENA region’s compelling investment opportunities are intact ... [more]
February 03, 2011
Citadel Capital announces plan to re-open, notes that no staff in Egypt or the 13 other nations in its investment footprint have come to harm during recent events nation-wide.... [more]
January 17, 2011
Shareholders approve Board of Directors resolution... [more]
December 22, 2010
Citadel Capital is “unique in CEEMEA … a strong play on infrastructure in the Middle East and Africa,” says the global research house, setting a price target of EGP 12.40 per share... [more]
December 05, 2010
Production at the Shukheir Bay Field-6, located in the Shukheir Marine Gulf of Suez Concession, has increased by 1,700 barrels of oil per day (BOPD) from the Kareem sandstone... [more]
November 30, 2010
Citadel Capital’s Chairman and Founder encourages an audience of global investors and more than 100 African private equity insiders to look beyond past perceptions of the world’s final economic frontier to realize opportunities to build highways, energy distribution networks, and agribusinesses that will deliver outsized returns over a 10 year horizon ... [more]
November 29, 2010
Strong rise in AUM, revenues and net profits as execution risk continues to narrow across the firm’s 14-country, 15-industry footprint... [more]
November 09, 2010
Sudanese and Egyptian businessmen and government officials gathered in Khartoum to inaugurate Takamol, Sudan’s most technologically advanced cement plant, in the presence H.E. Dr. Awad Ahmed Al Jaz, Sudan’s Minister of Industry, H.E. Mr. Adel Awad Soliman, Minster of State for Welfare and Social Security and H.E. Mr. Osman Salman Mohamed Noor, the General Commissioner of the Sudanese Social Security Investment Authority (SSIA)... [more]
November 02, 2010
The architects of Brazil’s railway turnaround will bring cutting-edge technology to RVRI’s three-point rehabilitation program for the national railways of Kenya and Uganda... [more]
November 02, 2010
Citadel Capital shares are a “hidden value play,” says Crédit Suisse, which suggests a target price of EGP 11.62 per share... [more]
November 01, 2010
The founder of the leading private equity firm in the Middle East and Africa tells a top industry gathering in London Western institutional investors and global SWFs seeking outsized returns must look to Africa... [more]
October 24, 2010
The leading private equity firm in the Middle East and Africa is a founding member of an industry association in its home market... [more]
October 18, 2010
The founder of the leading private equity firm in the Middle East and Africa tells a top industry gathering that Arab sovereign wealth funds need to devote more attention to opportunities in the Middle East and Africa rather than chasing low returns in developed economies... [more]
October 06, 2010
Corporations must play a key role in arming Egyptian youth with the skills they need to thrive in today’s job market, the Secretary-General of the Citadel Capital Scholarship Foundation tells attendees at a symposium with former US President Bill Clinton... [more]
September 28, 2010
The region’s leading private equity firm participates in this year’s Euromoney Egypt Conference with a high-profile delegation that includes two of the firm’s Managing Directors as well as three CEOs on the Platform and Portfolio Company levels.... [more]
September 14, 2010
Dina Farms unveils a new retail strategy that will see it grow its nationwide chain of neighborhood stores to 20 branches within the next two years.... [more]
August 29, 2010
ASCOM Group announces positive preliminary reports of gold mineralization in its concessions in Ethiopia, Sudan and Algeria as it continues to expand its operations across several North African countries... [more]
August 26, 2010
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), the leading private equity firm in Africa and the Middle East with US$ 8.3 billion in investments under control, confirmed today that its shareholding in Rift Valley Railways International, the entity that owns 100% of each of the Kenya and Uganda concession companies, has risen to 51% through its subsidiary Ambience Ventures Ltd as it completed the restructuring first announced in March 2010.... [more]
August 22, 2010
Leading private equity firm reports the start of operations at four greenfields, 5.3% growth in TNAV since FY09 and rising invested assets under management quarter-on-quarter... [more]
August 10, 2010
State-of-the-art river barges will form the core of Nile Cargo’s growing fleet, providing a unique transportation solution that will see parent company Nile Logistics link the Mediterranean Sea to South Sudan... [more]
August 09, 2010
One of Africa’s largest project finance deals reaches the signing of a US$ 2.6 billion debt package with the participation of key development finance institutions and export credit banks... [more]
August 01, 2010
Financing facility from Bank of Khartoum will support the farming of the first 2,000 feddans of sorghum just south of Kosti, a major logistics hub in Sudan’s White Nile State... [more]
July 20, 2010
The most technologically advanced plant in Sudan will satisfy fast-growing domestic demand, helping Sudan ease cement imports that currently stand at 3 million tons per annum... [more]
July 15, 2010
ASEC Engineering and Management Enters Agreement to Manage Sudanese Cement Plant... [more]
July 11, 2010
ARESCO finalizes a contract to build a new cement factory in Assiut ... [more]
July 06, 2010
Citadel Capital is the sole African private equity firm selected by the US institution following OPIC’s call for proposals in October 2009, which generated 87 applicants... [more]
July 06, 2010
The Citadel Capital Scholarship Foundation, which provides financial assistance for talented young Egyptian students who wish to study at elite universities worldwide, has awarded 70 scholarships to date... [more]
July 05, 2010
An industry veteran has been appointed Managing Director of one of Egypt’s leading producers of iron castings... [more]
July 01, 2010
Funding from International Finance Corporation marks an important step toward financial close on Citadel Capital’s US$ 3.7 billion second-stage refinery... [more]
June 30, 2010
The co-founder of the Middle East and Africa’s leading private equity firm, in a keynote address to SuperReturn Emerging Markets opening today in Geneva, calls on industry leaders to place financial engineering in context and turn to a broader mix of value-creation tools... [more]
June 28, 2010
The leading private equity firm in Middle East and Africa receives prestigious industry award that recognizes the achievements of outstanding African businesses that are contributing to the economic growth and development of the continent ... [more]
June 17, 2010
Citadel Capital is in advanced stages of negotiation for debt package to finance the Egyptian Refining Company (ERC)... [more]
June 09, 2010
Eighty local and international brands are set to open their doors as the first phase of Designopolis, a one-of-a-kind home furnishings and design retail center, makes its debut... [more]
May 26, 2010
A joint venture between leading regional producer ASEC Cement and Egypt’s Misr Qena Cement will cater to the under-served Upper Egyptian building and infrastructure markets.... [more]
May 24, 2010
The captive 42 MW Berber plant marks major milestone for TAQA Arabia’s power generation business while powering Sudan’s most technologically advanced and environmentally friendly cement producer... [more]
May 20, 2010
Production is up sharply at operations in Egypt as part of an ongoing program to maximize value at Citadel Capital’s heavy oil platform... [more]
May 18, 2010
Citadel Capital Chairman Ahmed Hiekal speaks at the Euromoney Saudi Arabia Conference about the potential of the Kingdom as one of the region’s most attractive markets for private equity investments ... [more]
May 13, 2010
Leading private equity firm reports 4.1% growth in principal investments. Existing investments are on track as the firm continues an incremental build-out of platform companies and prepares to complete greenfield investments.... [more]
May 06, 2010
Citadel Capital Managing Director Karim Sadek tells attendees at the World Economic Forum on Africa that “one billion Africans” are a key competitive advantage that make Africa one of the most intriguing investment destinations in the world... [more]
April 14, 2010
Citadel Capital, the Cairo based private equity firm, sees immense potential in Saudi Arabia as the world’s largest oil producer builds a broad based economy and continues to liberalize and modernize its business climate... [more]
April 14, 2010
Citadel Capital Managing Director Amr El-Barbary tells senior government officials and business leaders at the 3rd COMESA Investment Forum in Sharm El-Sheikh that there has never been a more interesting time to invest in Africa... [more]
April 06, 2010
A fully-owned subsidiary of Wafra, Citadel Capital’s Sudanese agriculture platform, inks 30-year lease for 60,000 feddans of land in White Nile State ... [more]
March 23, 2010
emeaFinance recognizes Citadel Capital as Africa’s Best Private Equity House for the third consecutive year, while the firm’s innovative transport and logistics investment is named African Infrastructure Deal of the Year by Infrastructure Investor... [more]
March 23, 2010
Lead investors in the vital national railway of Kenya and Uganda agree a way forward that includes US$ 250 million in much-needed capital expenditure to upgrade both infrastructure and rolling stock... [more]
March 18, 2010
Bonyan for Development and Trade, Citadel Capital’s Platform Company for investments in specialty real estate, has secured remaining funding for the MENA region’s first specialized design, furniture and home accessories mall ... [more]
March 16, 2010
Strong rise in net asset value, revenues and profits at Middle East and Africa’s leading private equity firm... [more]
March 16, 2010
Regional private equity firms can help lead regional growth provided they have the right business models and skill sets, Citadel Capital Managing Director and Co-Founder Hisham El-Khazindar tells industry leaders at PEI’s Middle East Forum... [more]
March 07, 2010
Sphinx Glass, Citadel Capital’s investment in the highly promising MENA glass industry, undertakes commissioning at its state-of-the-art production facility March 7, 2010 Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), the leading private equity firm in Middle East and Africa with US$ 8.3 billion in investments under control, announced today the start of commissioning at [...]... [more]
March 07, 2010
Amr Seif has been appointed to lead Citadel Capital’s fast-growing financial services Platform Company, Finance Unlimited. The company currently controls investments in the Middle East and Africa’s investment banking, microfinance and commercial banking sectors... [more]
February 24, 2010
Production is up sharply at operations in Egypt and Pakistan as part of an ongoing program to maximize value at Citadel Capital’s heavy oil platform... [more]
February 23, 2010
As part of its ongoing plans to expand and upgrade its dairy facilities, Dina Farms has purchased an additional 850 pedigree Holstein heifers... [more]
February 23, 2010
NRPMC’s first river port becomes fully- operational with the initiation of a strategic contract to ship 2 million tons of wheat each year along the River Nile... [more]
February 22, 2010
Citadel Capital has acquired a stake in a storied Kenya-Uganda railway as it begins deploying US$ 200-400 million in East Africa in 2010-12... [more]
February 21, 2010
US$ 80 million deal sees ASEC Holding increase its exposure to what will become one of the region’s largest independent cement producers... [more]
January 17, 2010
42 MW plant marks major milestone for TAQA Arabia’s power-generation business while securing vital energy source for state-of-the-art Sudanese cement plant... [more]
January 17, 2010
Africa’s largest private equity firm is pursuing exciting new opportunities in Kenya, Uganda, and Tanzania... [more]
December 30, 2009
The family of the late Youssef Allam have transferred their shares to a new ownership vehicle, but remain committed shareholders in the region’s leading private equity firm... [more]
December 08, 2009
Citadel Capital announced today that it has partially exited ASEC Holding as well as United Foundries Company, which was recently spun-off from ASEC Holding... [more]
December 03, 2009
Production on the Shukheir Bay-5 ST, in the Shukheir Bay Field of the Shuhkeir Marine Gulf of Suez concession, has been increased from 60 to 1600 barrels of oil per day (BOPD) from the Lower Rudeis sandstone. This raises total production at NPC to 1,908 barrels of oil per day.... [more]
November 30, 2009
A panel of industry experts names Citadel Capital the region’s Best Private Equity House, while the firm’s Founder and Chairman is recognized with a Special Merit Award for lifetime achievement ... [more]
November 25, 2009
Veteran banker Amr Bahaa has been appointed the new Managing Director of the Sudanese Egyptian Bank... [more]
November 24, 2009
A leading Egyptian solid waste management company will become the nucleus of a new Platform Company in the highly promising solid waste management sector in the Middle East and Africa region... [more]
November 24, 2009
Gozour subsidiary Rashidi El-Mizan has acquired Sudanese confectioner Al-Musharraf ... [more]
November 23, 2009
The Middle East and Africa’s leading private equity firm will list its shares on the Egyptian Exchange (EGX) in a move that underscores Citadel Capital’s commitment to transparency and creating value for shareholders and limited partners alike... [more]
November 17, 2009
Citadel Capital’s Co-Founder and Managing Directors play a leading role at the 8th Annual African Venture Capital Conference in Cairo under slogan Africa: The Growth Continent for Private Equity — “Investment Opportunities 2010 and Beyond”... [more]
November 04, 2009
As part of an expansion plan that includes wider outreach to students and consumers in Egypt, Diwan Bookstore has opened a new flagship store inside Cairo University ... [more]
November 02, 2009
Citadel Capital Chairman and Founder Ahmed Heikal is a keynote speaker at PEI’s Emerging Markets Private Equity Forum and EMPEA’s Executive Summit on Private Equity in Africa at the London Stock Exchange... [more]
October 29, 2009
The region’s leading private equity firm showcased its green platform investments in energy distribution and Nile River transportation at an American Chamber of Commerce conference attended by former US Vice President Al Gore... [more]
October 21, 2009
Alaa El-Afifi addresses the second annual North Africa Trade and Investment Conference in Cairo... [more]
October 20, 2009
ASCOM expands its regional mining business with the acquisition of a strategic 9% stake in GMA Resources, a UK-listed gold exploration and production company that owns 52% of a promising exploration and production operation in Southern Algeria... [more]
October 12, 2009
African Banker magazine names leading regional private equity player Citadel Capital its Fund of the Year... [more]
October 12, 2009
The MENA economies, which posted growth in 2009 despite the global crisis, hold significant untapped opportunities for confident investors, say leaders of the region’s leading private equity firm... [more]
October 11, 2009
The firm hires Hassan Massoud as it looks to leverage its emerging markets experience to spur growth in one of the world’s most untapped regions... [more]
October 04, 2009
Bassem Azab joins Citadel Capital, where he will manage equity placements across the Arab world... [more]
October 04, 2009
Mohsen Mansour joins Citadel Capital’s equity team as a Vice President.... [more]
September 29, 2009
The region’s leading private equity firm says Egypt proved well-equipped to handle international economic shocks — and is optimistic about unfolding opportunities ... [more]
September 15, 2009
The turnkey industrial contractor executes a US$ 140 million contract to complete a 4,200 tons per day cement production facility... [more]
September 14, 2009
The region’s leading private equity firm wins the first award for a Middle East private equity firm at Global Investor Magazine’s Annual Awards and Survey event... [more]
August 31, 2009
Citadel Capital’s Platform Company Finance Unlimited, along with an experienced microfinance management team and the Egyptian Gulf Bank, open Tanmeyah Micro Enterprise Services across Cairo and Egypt’s Delta... [more]
July 30, 2009
The National River Port Management Company (NRPMC) has recruited Michael J. Power, a former senior executive for one of the world’s leading port operators, as its new CEO... [more]
July 22, 2009
Citadel Capital, the Egyptian private equity firm, wishes to clarify that press reports suggesting it has been awarded a tender to build a gas distribution network in Libya are false.... [more]
July 14, 2009
The Citadel Capital Scholarship Foundation awards talented young Egyptian students grants to study at top universities worldwide... [more]
July 14, 2009
The Middle East and North Africa’s leading confectionary announces expanded production capabilities in a move to leverage 120 years of brand equity and food industry expertise... [more]
July 14, 2009
The investment is IFC’s third to date alongside leading regional private equity firm Citadel Capital... [more]
July 14, 2009
An EGP 325 million syndicated loan will partially finance the construction of a fleet of state-of-the-art Nile River barges... [more]
June 29, 2009
Gozour, Citadel Capital’s regional foods platform investment, sealed a deal to acquire 100% of the Nile Company for Food Industries (Enjoy) ... [more]
June 28, 2009
Local and international brands have leased 100% of the first two phases of Designopolis, the region’s first furnishings and design retail center... [more]
May 31, 2009
Egypt’s largest private farm acquires debt and accelerates momentum on ambitious expansion plans that include the purchase of livestock and the construction of state-of-the-art dairy facilities... [more]
May 31, 2009
Agribusiness expert John Elgin takes the helm at Sabina as the platform company begins preparing 254,770 feddans of land for cultivation in Sudan’s White Nile State... [more]
May 31, 2009
Citadel Capital has amassed one of the world’s largest pools of investment capital according to a report from Private Equity International that finds the firm is the 75th largest in the world... [more]
May 31, 2009
Citadel Capital Managing Director Karim Sadek will lead the search for a globally experienced industry leader to help take NPC to the next level... [more]
May 28, 2009
Private-sector leaders in the world’s emerging markets have compelling opportunities to invest in businesses that improve life for large swaths of the population, Hisham El-Khazindar told a Harvard University Arab Alumni Association panel... [more]
May 16, 2009
At the World Economic Forum for the Middle East, the leading private equity firm in the Middle East and North Africa underscores a business model that has helped it return more than US$ 2.2 billion in cash to investors in just five years... [more]
May 13, 2009
Citadel Capital Platform Company Finance Unlimited partners with an experienced microfinance management team and the Egyptian Gulf Bank to establish Tanmeyah Micro Enterprise Services, a company that will help provide low and middle income groups with much-needed access to financing and financial services... [more]
April 06, 2009
The International Finance Corporation and European Investment Bank have joined the first closing of a promising new US$ 100 million fund that targets distressed assets in multiple sectors of the Egyptian economy... [more]
March 23, 2009
Egypt’s banks are rock-solid — the key now is for them to step-up lending to qualified borrowers of all sizes, says the co-founder of the leading MENA private equity firm at the Central Bank of Egypt conference titled “The Banks and You”... [more]
Dina Farms, Egypt’s leading producer of fresh milk, expands its dairy capacity with the recent acquisition of 1,900 new heifers (pregnant cows).... [more]
March 17, 2009
The global recession has forced investors to reformulate their strategies. At the March 2009 Euromoney Egypt Investor Conference in London, Citadel Capital Managing Director Marwan Elaraby identified sectors still laden with profitable private equity investment opportunities.... [more]
March 16, 2009
Builders of investments, not financial engineers, will thrive in this vintage year for private equity investing in the Middle East and Africa, Citadel Capital Chairman and Founder Ahmed Heikal tells participants at Oxford University’s annual private equity conference.... [more]
March 15, 2009
The award is Citadel Capital’s second prominent award win in as many months, highlighting the firm’s success in 2008 despite the global economic downturn. In January, Citadel Capital won Acquisitions Monthly’s MENA Private Equity House of the Year for 2008.... [more]
March 10, 2009
Regional mining group hires Kenneth Crichton, a 23-year veteran of the global mining industry, to head newly formed ASCOM Gold as it continues to develop its concessions in Ethiopia and Sudan... [more]
February 21, 2009
Citadel Capital Managing Director Hisham El-Khazindar says the private-sector’s flexibility and decisive government reforms have left the Arab world’s largest economy better-off than many emerging market peers... [more]
January 21, 2009
Leading MENA private equity firm recognized for its steady hand in tumultuous 2008 global investment climate... [more]
December 28, 2008
Ghada Hammouda brings 18 years of international marketing, advertising and PR experience to Citadel Capital as the firm shores up its platform companies and looks to harness new opportunities amid the global financial crisis.... [more]
September 18, 2008
ASEC Cement calls Algeria “North Africa’s hottest up-and-coming cement market” as it prepares to launch projects in Djelfa and Wahran... [more]
June 27, 2008
Stephen A. Murphy, former Head of Private Placements for Citigroup in Europe, will establish Citadel Capital’s new Dubai office as a platform for global institutional fundraising.... [more]