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:
“Citadel Capital SAE has not received a direct offer of acquisition from any party, nor has it received information from its shareholders suggesting that a formal offer has been presented to any of them. The Firm’s management will always seek to enhance shareholder returns and protect the interests of stakeholders including its co-investors and employees.
“We further note in this context that as is the nature of private equity firms, Citadel Capital SAE is frequently in negotiations to divest or acquire investments.
“In the event that the Firm closes a transaction — or in the event that it is in advanced negotiations on any one of those deals — Citadel Capital SAE will disclose this information to the Egyptian Exchange and to its investors in a timely manner.”
Citadel Capital SAE (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 SAE 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 SAE 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