Sep 23 2007 |
more articles from
|
Ithmar Capital acquires entire share issue of Mushrif Trading
Dubai: Ithmar Capital , one of the region's leading private equity players, has completed the acquisition of the entire new share issue of Kuwait's Mushrif Trading & Contracting Company (MTCC) , a leading GCC construction firm, with the transaction now complete.Under the agreement, Ithmar Capital 's UAE affiliate Gulf Consortium 2 has acquired 30 million shares at a cost of approximately Dh355 million ($97 million).
The proceeds will allow Mushrif to expand its business into the UAE market through acquiring major UAE construction businesses.
Achievements
"This is a clear case of private equity delivering value to a highly successful company by helping it grow through acquisitions in the key markets of Kuwait, the Emirates and Qatar," said Haj Hassan. The deal has provided additional management expertise to identify investment and expansion opportunities in premier marketplaces and the necessary capital to attain new strategy goals.
MTCC, a multi-disciplinary contractor, is currently executing projects in the UAE, Saudi Arabia, Qatar and Kuwait with an estimated value of Dh3.9 billion.
The deal expands Ithmar's extensive portfolio into the GCC's important construction sector.
" Ithmar Capital has a portfolio of investments in excess of $500 million, targeting growth capital and buyout opportunities in attractive sectors in the Gulf such as oil and gas, healthcare and education. MTCC is a strategic deal which demonstrates our interest to tap into the booming construction sector in the region," explained Faisal Belhoul, founder and managing partner, Ithmar Capital .
Role of Kamco
Kuwait's
Kipco Asset Management Company
(Kamco) acted as financial adviser for Mushrif in arranging the agreements with Allen & Overy and Bryan Cave acting as legal advisors to MTCC and
Ithmar Capital
respectively. Anthony Kyprianou, DGM, Financial Service and Investment Division representing Kamco, was also present.
© Gulf News 2007
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment