Egypt’s Citadel Capital SAE will “aggressively” sell assets in “non-core” industries after it completes a capital increase, as it transforms itself from a private equity firm into an investment company, said Chairman Ahmed Heikal.
When Saudi Arabia’s King Abdullah held talks with Secretary of State John Kerry on Nov. 4, his main concern wasn’t U.S. policy toward Iran’s nuclear program or Syria’s war as the visitors had expected: it was Egypt.
Abraaj Capital Ltd., the Dubai-based private equity company managing about $6.2 billion, may hire Morgan Stanley as an adviser on the planned acquisition of a stake in Egyptian private equity firm Citadel Capital SAE , two people familiar with the situation said.
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 Corp ., the biggest publicly traded Egyptian private equity firm, said one of its units, the Egyptian Refining Co., obtained a $2.6 billion loan to help finance construction of a $3.7 billion oil refinery.
Citadel Capital SAE , an Egyptian private equity firm with $4 billion of assets under management, posted a narrower loss in the third quarter from the previous quarter on the start of “multiple greenfield projects.”