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Citadel Capital: Talks with Abraaj Capital Have Ended

Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading private equity firm in the Middle East and Africa.
Qalaa Holdings | 28.07.2011

Citadel Capital SAE announced today that its principal shareholder, Citadel Capital Partners Ltd (CCP), has ended talks with Abraaj Capital, a Dubai-based private equity firm, regarding a potential investment in Citadel Capital.

CCP stated that the parties did not reach agreement on terms that would — in the view of CCP and of its advisors, Citigroup — maximize value for all Citadel Capital shareholders equally, and adequately protect the interests of the firm’s stakeholders and co-investors.

Citadel Capital is the leading private equity firm in the Middle East and Africa. Its 19 Opportunity-Specific Funds control Platform Companies with investments of more than US$ 8.7 billion in 15 industries including energy, mining, agrifood, cement, transportation and retail spanning a 14-country footprint.

CCP is the vehicle through which the senior management of Citadel Capital holds its equity in the firm; CCP’s present stake in Citadel Capital stands at over 33%.