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:
Citadel Capital Partners Ltd. (CCP), the vehicle through which the members of the firm’s Executive Committee hold their equity in Citadel Capital sold approximately 13.4 million shares in Citadel Capital with a total amount of approximately EGP 74 million last week.
All proceeds from the sale of these shares were immediately injected into Citadel Capital in the form of loans from CCP to strengthen the firm’s cash position. Those proceeds are advanced from CCP into Citadel Capital until regulatory approvals are obtained for the planned capital increase.
It is worth noting that CCP owns approximately 33% of Citadel Capital SAE shares as of 16 June 2011.
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.)
g...@qalaaholdings.com (click to reveal this email)
Tel: +20 2 2791-4440
Fax: +20 22 791-4448
Mobile: +20 16 662-0002