Leading Emirati Company Hikes Stake in Qalaa Holdings, Takes Second Board Seat

African leader in infrastructure and industry welcomes second representative from long-term investor in Qalaa Holdings; Qalaa shareholders are dominated by Egyptian, Saudi and Emirati institutions, Egyptian HNWI and retail investors.

Qalaa Holdings (CCAP.CA on the Egyptian Exchange, formerly Citadel Capital) announced today that Emirates International Investment Company (EIIC), a long-term investor in Qalaa Holdings, has increased its stake in Qalaa to 10.41%.

EIIC, headed by Sheikh Saif bin Zayed Al-Nahyan, is key strategic unit of Abu Dhabi conglomerate National Holding, one of the Emirates’ leading privately-owned companies.

“EIIC’s decision to increase its stake in Qalaa is a vote of confidence in our strategy, in our strategic transformation into an investment company, and in our call on the very positive long-term outlook for the Egyptian economy,” said Qalaa Holdings Chairman and Founder Ahmed Heikal. “We are honored to have their trust will continue to work diligently to create value for all of our shareholders.”

As part of the transaction, EIIC has taken a second seat on Qalaa Holdings’ Board of Directors. Robert Wages joins fellow EIIC appointee Ragheed Shanti, who has served on Qalaa’s board since 2012. Wages has been Head of Private Equity at EIIC since 2010 and was earlier Executive Director of Private Equity at InvestAD, also in Abu Dhabi. Wages holds CFA and CAIA charters and is a graduate of Princeton University.

Citadel Capital Partners Ltd. (CCP, the vehicle through which senior management holds its equity in the firm) remains Qalaa Holdings’ lead shareholder with a 25.65% stake. In addition to CCP and EIIC, the firm’s other leading shareholders include Saudi Arabian conglomerates Olayan Group and Abanumay Group as well as leading Egyptian institutions and high-net-worth investors. International funds hold approximately 15% of the company’s shares.


Previous Qalaa Holdings press releases on this subject and others may be viewed online from your computer, tablet or mobile device at qalaaholdings.com/newsroom

Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in infrastructure and industry. Formerly known as Citadel Capital, Qalaa Holdings controls subsidiaries in core industries including Energy, Cement, Agrifoods, Transportation & Logistics, and Mining. To learn more, please visit qalaaholdings.com.

Forward-Looking Statements
Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties.

For more information, please contact:
Ms. Ghada Hammouda
Head of Corporate Communications
Citadel Capital (S.A.E.)


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