Advised MENA's largest optical retail chain on its debut investment into Turkey
Dubai, UAE - 21 May, 2012 - Arqaam Capital ("Arqaam"), the specialist emerging markets investment bank, today announced that it acted as the exclusive financial adviser to Cairo-based Magrabi Retail ("Magrabi") in the purchase of a controlling stake in the Turkish optical retailer, Şişli Optik Ticaret A.Ş. This transaction marks Magrabi Retail's first acquisition, outside the MENA region, and the start of a strategic initiative to expand into select emerging markets. The additional Sisli stores will now see the network expand to a total of over 160 retail outlets, across ten countries.
Advised by Arqaam, Magrabi participated in a competitive bidding process and successfully progressed the Transaction to closing, having secured favorable terms. Arqaam provided M&A advisory services, as well as assisted in raising acquisition financing for the transaction.
Riad Meliti, Chief Executive Officer of Arqaam, stressed the role Arqaam played in the acquisition: "As an emerging markets investment bank, we specialize in facilitating capital flows into rapidly growing and dynamic markets, such as Turkey. Our understanding of both the local market and the dynamics of emerging countries has allowed us to assist Magrabi Retail, in growing beyond the MENA region."
Meanwhile, Amin El-Maghraby, Chief Executive Officer of Magrabi stressed the importance of Turkey for his network: "Having demonstrated a strong working model in existing geographies, Magrabi Retail is now targeting new markets in which to replicate its model. Turkey has been eyed as a potential market given the strength of its macroeconomic fundamentals and the growing retail sector. Arqaam provided us with the necessary, additional, support to successfully complete this milestone transaction."
Transaction terms are not disclosed.
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About Arqaam Capital
Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to Emerging Markets. Arqaam Capital combines international best practice with regional expertise and creates investment opportunities primarily for Middle Eastern investors looking to invest in the region and internationally, and for international investors looking for opportunities in Emerging Markets. Arqaam Capital has strong roots in the Middle East with a regional shareholder base which includes institutions, family offices and high net worth individuals. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC) and operates out of offices in Dubai, Beirut, Cairo, Tripoli and London. Arqaam Capital has seven business lines - Corporate Finance, Asset Management, Cash Equity, Credit Trading, Equity Derivatives, Treasury and Custody.
About Magrabi Retail
Magrabi Optical, begun in the early 1980's, has now emerged as one of the world's top international optical retailers, providing end to end eye care products and services across Turkey, the Middle East and North Africa. Having been built on a unique operational and retail distribution platform, Magrabi's primary focus still remains on delivering an unrivalled experience to its loyal customers. Network wide, Magrabi is devoted to providing customers with the highest quality vision correction services, with its expert and uniformly trained staff and a wide-ranging selection of the world's finest prescription spectacles and sunglasses.
About Şişli Optik
Şişli Optik is one of the leading optical retailers in Turkey with a nationwide network of 17 stores. Established in 1975, Şişli Optik offers eyewear products of prestigious brands. Having a strong brand recognition, Şişli Optik has prime locations in the selected shopping malls as well as highly popular shopping districts in Turkey.
Contacts:
Arqaam Capital
Moosa Al Tartir, Director - Corporate Communications
Office: +971 4507 1912
moosa.altartir@arqaamcapital.com
Brunswick
Katharine Crallé
Office: +971 4 446 6279
arqaam@brunswickgroup.com
© Press Release 2013
