Merchant bankers MerchantBridge buys stake in a Swiss Bank

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MerchantBridge acts as a two-way bridge between international and Middle East governments, institutions, corporations and individuals. The company provides a full range of traditional merchant banking services to its wide-ranging clientele including corporate and project finance, government advisory and private equity.

MerchantBridge will work closely with Bank Frey to expand its international business in particular in the Middle East where personalized private banking is increasingly in demand.

The Frey family is well known and trusted in Switzerland's legal and banking industries, its members having been professional lawyers and bankers for local and international clients for generations.  The bank is chaired by Dr. Markus A. Frey, an international lawyer and senior partner of a first-class law firm in Zurich, Niederer Kraft & Frey, which was co-founded by his father in 1936. Bank Frey offers a wide range of integrated private banking services, portfolio management, private equity investments, family office services and, in particular, international legal and tax advice.

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The firm has offices in London, Bahrain and Baghdad, and strategic alliances with international partners in Europe, the United States and Australasia.

MERCHANTBRIDGE'S MANAGEMENT TEAM
Basil Al-Rahim: joint founding managing director of MerchantBridge with Colin Craig O.B.E., has 28 years banking and private equity experience. He is Co-founder of the Iraqi Foundation and, previously, Founder and Managing Director of Safron, a private equity firm focusing on the MENA region, Managing Director of The Carlyle Group and Senior Advisor at Riggs Bank. Also worked for Gulf Investment Bank earlier in his career gaining extensive knowledge of the region.

Eric le Blan: 25 years banking experience advising public sector bodies on their international debt and developing domestic capital markets, including Warburgs (now UBS) and Saudi International Bank. Currently involved with MerchantBridge projects in Iraq advising the Ministry of Industry & Minerals.

Tim Holder: 17 years experience in corporate and project finance and has been involved in a number of significant deals in the region. Tim set up the Bahrain office of Close Brothers in 2000, and earlier worked for Flemings and Schroders for 10 years advising the UK Ministry of Defence on the Saudi Offset Programme. Before that Tim worked for PriceWaterhouse.

Abdallah Lahoud: 8 years experience in banking and private equity gained with Safron, a private equity firm in London, and with the research department of Bank Audi in Lebanon. He is experienced in negotiations, and the process of sale and purchase of companies including all legal documentation.

Samir Arab, Marketing and Placement: Over 16 years of Private Banking experience.  Former Global Country Manager and Senior Officer in charge of Saudi Arabia at Chase Manhattan Private Bank (London) Samir also set up a multi-family wealth management office to advise a large Middle Eastern conglomerate.  Prior to working for Chase, Samir was head of Marketing and acting head of Private Banking at Riyadh Bank Europe covering Saudi clients.

Extracts from recent company announcements:

4^th April 2005:

MerchantBridge announces the tragic death of Colin Craig OBE.

"The sudden loss of Colin Craig, one of the company's founders and joint managing directors, occurred at Easter in a car accident while on holiday with his wife in Morocco." 

10^th March 2005:

MerchantBridge launches First Ever Iraq Construction Materials Fund 

"The first tranche of US$20 million has been raised from cross-border investors for a new US$ 50 million, 5-year, direct investment fund to finance manufacturers and suppliers of construction materials in Iraq.  The fund will invest in sub-sectors where strong demand is expected but supplies are limited or uneconomical to import. Four such projects have been launched immediately: Ready Mixed Concrete, Industrial Paint & Coatings, Engineered Steel Structures & Fabrication, and Plastic Pipes.

The International Finance Corporation, a part of the World Bank, has indicated that it will be willing to consider medium term loans to the individual projects of the fund on a case by case basis.

Strategic investors in the fund include:  El Seif Engineering Contracting, a construction organization established in 1975 that now ranks among the top three Saudi Construction Companies; Al-Muhaidib Group, founded 60 years ago, has prominent interests in all areas of consumer trade and industry in Saudi Arabia and is one the biggest importers, stockists, wholesalers and retailers of construction materials in the Gulf; Odebrecht Engineering & Contracting, a Brazilian contracting company founded in 1944 that is now the leader of Latin America's engineering & construction and chemicals & petrochemicals industries. It is the largest hydraulic power contractor in the world.

The fund's on-site advisors are:  Abdel Majid Al-Ani, ex-Chairman and Chief Executive Officer of Rafidain Bank and served on the Board of Governors at the Central Bank. Ex-Deputy General Manager of Gulf International Bank. Currently Chairman and CEO of a private bank in Baghdad.  Chairman of Mansour Hotel, one of the leading hotels in Baghdad.  Fadel Ajina, senior partner of a leading architectural and engineering consultancy business established in Iraq in 1967, who has designed and supervised a number of landmark buildings and projects in Baghdad and other Iraqi cities and in the Gulf States."

3^rd March 2004:  

Macquarie Bank and MerchantBridge agree joint venture in the Middle East North Africa region  

"MerchantBridge & Co. has concluded an agreement with Macquarie Bank to work together in the Middle East North Africa (MENA) region. Macquarie Bank is one of the world's leaders in infrastructure and large project finance, and this will be the primary focus for Macquarie MerchantBridge, combining the regional expertise of MerchantBridge with the technical skills of Macquarie.

It is anticipated that over the next 5 years the MENA region will see a major expansion in electricity generation, water production and petrochemicals manufacture, as well as increasing privatisation of existing state-owned assets in these sectors and others such as telecoms.  In all of these, Macquarie has long established expertise."

21^st January 2004:

Iraq appoints MerchantBridge to advise on the leasing of State-owned companies to the Private Sector

"MerchantBridge & Co. Ltd., the merchant banking firm with offices in London, Bahrain and Baghdad, today announces that it has been appointed as the Lead Advisor to the Iraqi Ministry of Industry and Minerals for their Lease of Industrial Factories Programme.

The first phase of the Programme involves 35 factories in a number of sectors falling into four categories: food & pharmaceuticals, construction materials & engineering, chemicals and textiles. Over 100 bids have already been received, a number of which are from international firms or from joint ventures between Iraqi and foreign firms."

© Press Release 2005