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:
21 June 2011
Citadel Capital was informed today by Citadel Capital Partners Ltd (CCP) (CCP is the vehicle through which Citadel Capital SAE’s Executive Committee holds its equity in the Firm) that early-stage, verbal talks have started with more than one potential strategic investor regarding the possible sale of CCP’s shares in Citadel Capital SAE as well as the balance of the firm’s shares. To date, no formal contracts or agreements with any interested party have yet been signed. It is also worth noting that negotiations of this type are not always successfully completed.
Citadel Capital moreover confirms that while the appointment of a major global investment bank to advise on strategic options is under consideration, no mandate has yet been issued for the same.
In the event that the deal is concluded — or in the event that said negotiations reach an advanced stage — Citadel Capital will disclose this information to the Egyptian Exchange and to its investors in a timely manner. Similarly, the firm will promptly disclose to the Exchange and to its shareholders any appointment of an investment bank to advise on different strategic options.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity-Specific Funds. The firm’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.7 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2006-2011, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.
For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications,
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4440 • Fax: +20 22 791-4448
Mobile: +20 16 662-0002