Dubai, UAE: Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), announced today that it has advised on the sale of a controlling stake in Country Hill International (“CHI”), a leading premium meat import wholesaler/supplier in the UAE, to the Gulf Japan Food Fund (“GJFF”), owned by investors including Mizuho Bank, Ltd. and The Norinchukin Bank. Baker & McKenzie Habib Al Mulla was the legal adviser to CHI on the deal.
Husam Kutaifan, Managing Director, Head of Investment Banking of Emirates Investment Bank, said, “This transaction marks another achievement for our investment banking team in the F&B sector. Emirates Investment Bank’s experience and knowledge of the UAE market, together with the capabilities and skills of our team, continue to give us the edge we need to identify the right opportunities for our clients. We are currently involved in a number of transactions across the GCC, particularly in the healthcare, education and F&B sectors – all fast growing in the region. As this momentum continues to build, we look forward to seeing more value-adding deals come to fruition in the coming period.”
Founded in the UAE in 1999, CHI is a meat wholesale company that specialises in importing meat products from New Zealand and Australia and distributing them to high-end hotels, restaurants, cafés and major supermarket chains in the UAE and Oman. In addition, CHI operates retail stores through its subsidiary company, "Prime Gourmet", serving upmarket retail customers directly.
GJFF is a private equity fund set up to promote the export of Japan’s agricultural and fisheries products, and related production and operation technology. Fund stakeholders on the Japanese side, apart from Mizuho Bank and Norinchukin Bank, also include the Cool Japan Fund, a public/private fund. Together with Middle Eastern sovereign wealth funds, all these organizations have collectively committed USD 390 million. The Fund began its investment operations on 3 March, 2016.
About Emirates Investment Bank pjsc:
Emirates Investment Bank is an independent private bank based in Dubai. It offers a wide-range of investment and banking services to an exclusive, but diverse, client base of high-net-worth individuals from across the region and around the world.
Emirates Investment Bank seeks to build long-term partnerships based on a foundation of trust, stability and integrity, which allows it to appreciate the unique circumstances and objectives of each of its clients. This personalised approach guides Emirates Investment Bank when providing its clients with bespoke banking solutions in connection with their wealth, business, and every day affairs.
Emirates Investment Bank is regulated by the Central Bank of the UAE, and is a listed entity on the Dubai Financial Market (Ticker: EIBank). For further information, please visit: www.eibank.com.
For media enquiries:
Emirates Investment Bank
+971 4 2317 720
+971 4 446 6270
© Press Release 2018