Oct 04 2007 |
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Finance House confirms USD 37.2 Million financing arrangement along with Qatar National Bank for Ithmar Capital
Dubai, UAE, 4th October 2007: Abu Dhabi-headquartered Finance House PJSC, an innovative finance entity engaged in structuring unique tailor-made financial solutions to clients, has confirmed, it arranged a USD 37.2 million financing for Ithmar Capital 's acquisition vehicle structured to invest in the construction and building industry. The acquisition vehicle's first investment was the recent purchase of new share issue of Mushrif Trading & Contracting Co. (MTCC) , at the value of USD 97.2 million.The deal - the first-of-its-kind for the Finance House - was arranged in conjunction with Qatar National Bank . Finance House acted as the exclusive Mandated Lead Arranger, Facility Agent and Security Agent for the transaction, which was concluded in 45 days.
"The relationship between Finance House and Ithmar Capital is greatly strengthened by the successful conclusion of this important deal and opens up new funding vistas going forward," said Mohammed Alqubaisi, Chairman of Finance House .
Faisal Belhoul, Founder and Managing Partner of Ithmar Capital , one of the region's leading private equity firms, said " Finance House approached the financing creatively and with a sense of urgency that Ithmar Capital values tremendously. Hamid Taylor and his team executed the deal expeditiously and with diligence."
About Finance House
The formation of
Finance House
PJSC aims at establishing a first of its kind independent finance company.
Finance House
is an innovative entity that respects the diversity of the UAE market and offers tailored and therefore unique financial products and solutions and provides a healthy competition to the existing financial sector.
The competitive edge that Finance House offers is attained through the adoption of strong and well planned strategies, focusing on reducing costs and offering comprehensive services to compete and fill gaps in the UAE market.
From another perspective Finance House is endeavoring to be a successful national company that gives high returns to its shareholders, creates better employment opportunities and contributes exceptionally to the economic development of the UAE. For more information please visit: http://www.financehouse.ae
About Ithmar Capital
Ithmar Capital
is a UAE-based regional private equity specialist, managed by a highly experienced team of focused leaders, with local and international expertise and connectivity.
Ithmar Capital
is to be the leading private equity firm in terms of conduct and return.
From its headquarters in Dubai and an office in London,
Ithmar Capital
targets exceptional growth capital and buyout opportunities throughout the GCC region and overseas, provided the GCC region represents a strategic market for overseas companies.
Ithmar Capital
is actively committed to using its unrivalled resources and international connectivity to strongly support the success of its portfolio companies.
With a focus on innovation,
Ithmar Capital
is at the cutting edge of its industry, always looking at new ways of adding value to its partners and portfolio companies.
Ithmar Capital
is the first regional private equity specialist that has entered into a strategic alliance with global private equity leader - 3i. The partnership combines local and regional knowledge and a network with true global reach and expertise.
Ithmar Capital
is currently managing Ithmar Fund I, a US $70 million fully-invested fund and Ithmar Fund II, which recently closed at US $ 250 million. Both funds follow a similar investment strategy and aim to achieve superior returns by capitalizing on new GCC based and overseas investment opportunities being generated by the surging regional economies.
For further information please visit
Ithmar Capital
online at: www.ithmar.com or contact: Maha Masri, IR & Marketing Director,
Ithmar Capital
Tel: +971 4 282 5555
© Press Release 2007
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