Citadel Capital: Talks with Abraaj Capital Have Ended

Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa, issued the following statement today

Citadel Capital SAE announced today that its principal shareholder, Citadel Capital Partners Ltd (CCP), has ended talks with Abraaj Capital, a Dubai-based private equity firm, regarding a potential investment in Citadel Capital.

CCP stated that the parties did not reach agreement on terms that would — in the view of CCP and of its advisors, Citigroup — maximize value for all Citadel Capital shareholders equally, and adequately protect the interests of the firm’s stakeholders and co-investors.

Citadel Capital is the leading private equity firm in the Middle East and Africa. Its 19 Opportunity-Specific Funds control Platform Companies with investments of more than US$ 8.7 billion in 15 industries including energy, mining, agrifood, cement, transportation and retail spanning a 14-country footprint.

CCP is the vehicle through which the senior management of Citadel Capital holds its equity in the firm; CCP’s present stake in Citadel Capital stands at over 33%.

—Ends—

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$ 2.2 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.)

g...@qalaaholdings.com (click to reveal this email)
Tel: +20 2 2791-4439
Fax: +20 22 791-4448
Mobile: +20 16 662-0002