Citadel Capital SAE, an Egyptian private equity firm with $4 billion in assets under management, rose to the highest in almost three months on speculation it is closer to selling a stake to Dubai-based Abraaj Capital Ltd.
Citadel Capital SAE rose for the first time in three days after its main shareholder, Citadel Capital Partners Ltd., started negotiations on a possible sale of a stake in the Egyptian private-equity firm.
Abraaj Capital Ltd., the Dubai-based private equity company managing about $6.2 billion, is in talks with Citadel Capital SAE to buy a stake in the Egyptian firm, three people with knowledge of the talks said.
Citadel Capital SAE, an Egyptian private-equity company with $8.7 billion in assets under management, said it will boost spending in eastern Africa after a “gratifying experience” investing in Kenya and Uganda.
Citadel Capital Corp. , an Egyptian private-equity firm with $8.3 billion in investments, said one of its companies received a $4.9 million loan from Bank of Khartoum for the plantation of land in Sudan.