Citadel Capital in the News
This page maintains a select list of clippings from major national, regional and international media. Please check back regularly for updates.
- Egyptian Firm Looks at Two Deals in Saudi
Emirates Business 24/7 | 14 October 2009 | English
Citadel Capital, an Egyptian private equity firm with US$ 8.3 billion in investments, is considering two acquisitions in Saudi Arabia, marking its first expansion into the Gulf, Managing Director Hisham El-Khazindar said. The firm has started talks with two “big” distressed industrial companies in Saudi Arabia, El-Khazindar said in an interview in Dubai. He declined to name the companies. “We didn’t focus previously on the Gulf because the opportunities to secure controlling stakes in companies there were scarce,” El-Khazindar said. That obstacle has eased because of the international credit crunch, he said.... [read] - Egyptian Company Invests in Agricultural Lands in Sudan
Reuters | 30 September 2009 | English
Citadel Capital Managing Director Ahmed El Houssieny stated that the company is investing in 274,000 feddans in North Sudan with the balance in the South. El Houssieny added that the company is using Australian expertise and the land will be cultivated with sugar cane, maize and wheat. ... [read] - Egypt’s Citadel Capital to Invest US$ 200-400 Mn in 2010
Reuters | 29 September 2009 | English
Egyptian private equity firm Citadel Capital plans to invest US$ 200 million to US$ 400 million in 2010 and is looking for more opportunities in the rest of Africa, the firm’s Managing Director said on Tuesday. Marwan Elaraby also said Citadel Capital had slightly adjusted its investment strategy due to market uncertainty and liquidity considerations, and that for now the firm would probably focus on more gradual investments.... [read] - Egypt Firm Says Investing in Sudan Farmland
Reuters | 29 September 2009 | English
Egyptian private equity firm Citadel Capital is investing in 500,000 feddans (210,000 hectares) of farmland in Sudan, a senior executive said on Tuesday. “We are investing in 274,000 feddans in the north (of Sudan) and the rest in the south,” Ahmed El Houssieny, Managing Director at Citadel Capital, told reporters on the sidelines of a conference in Cairo. He said the firm holds the rights to farm the land for 99 years. ... [read] - Is Africa the Next Investment Frontier?
CNBC Video | 21 September 2009 | English
Citadel Capital Chairman and Founder Ahmed Heikal spoke with CNBC saying that for some investors, Africa represents the next big investment opportunity. He told the hosts that Citadel Capital has been “investing in Africa for the last seven years and we are stepping up our investments significantly.” Heikal noted the difficulty in obtaining leverage in Africa as well as the challenges presented to exits and explained the fundamental difference between the firm’s core North African footprint vs. its newer investments in sub-Saharan (particularly Eastern) Africa.... [read] - Citadel Capital Wins Global Investor Award
AME Info | 14 September 2009 | English
Citadel Capital, the leading private equity firm in the Middle East and North Africa with US$ 8.3 billion in investments under control, recently received Global Investor magazine’s Middle East Award at the magazine’s Third Annual Awards and Survey. This is the first year that the international finance magazine Global Investor has extended the award to include the MENA region.... [read] - Tanmeyah Opens First Microfinance Branches
AME Info | 8 September 2009 | Arabic
Finance Unlimited, a platform company of Citadel Capital, has announced the first branch openings and start of operations at Tanmeyah. Tanmeyah, in partnership with the Egyptian Gulf Bank, opened 15 branches in July and issued loans worth EGP 8,091,000 to 1,669 clients in its first month of operation. Tanmeyah’s Executive Chairman Amr Abouesh and Citadel Capital Managing Director Ahmed El Houssieny are quoted extensively. ... [read] - NRTC Enters Sudanese Market
MENAFN | 7 September 2009 | Arabic
The National River Transportation Company (NRTC), a Platform Company of Citadel Capital, has entered the promising Sudanese market through the purchase of 51% of Keer Marine via Regional Investments Holding. On 14 January 2009 a deal was signed for NRTC to buy 20 river barges and pushers as well as two strategically located pieces of land on which it will build a river port and a storage facility. Hisham El-Khazindar is quoted saying that Citadel Capital’s strategy is to strengthen its position Egypt and then expand in geographically similar regions.... [read] - Heikal: Fiche we Tashbih Interview Part 2
Al Bashayer | 6 September 2009 | Arabic
Citadel Capital Chairman and Founder Dr. Ahmed Heikal sat with presenter Lamees El-Hadidi for her Ramadan 2009 talk show “Fiche we Tashbih.” Part 2 of 2... [read] - Heikal: Fiche we Tashbih Interview Part 1
Al Bashayer | 6 September 2009 | Arabic
Citadel Capital Chairman and Founder Dr. Ahmed Heikal sat with presenter Lamees El-Hadidi for her Ramadan 2009 talk show “Fiche we Tashbih.” Part 1 of 2... [read] - Citadel Capital Co-Founder Appointed To Egypt-US Business Council
Al-Mal | 4 August 2009 | Arabic
Minister of Trade and Industry Rachid Mohamed Rachid has named a new Head and Egyptian contingent for the Egypt-US Business; the Ministry announced the names of the council’s new board members today. New members include Hisham Al-Khazindar, Managing Director and Co-Founder of Citadel Capital.... [read] - Egypt: Still North Africa’s Bright Spot
Emerging Private Equity | July / August 2009 | English
After a few years of rapid economic growth, Egypt’s economy has slowed over recent times. But the country’s private equity firms remain confident that its opportunities are sound and offer tremendous future potential. Citadel Capital Managing Director Marwan Elaraby is quoted discussing the Egyptian economy and the banking sector. Story also discusses Citadel Capital’s investments in the agrifoods sector.... [read] - Citadel Capital: Food Industries Are the Best Investment During Crises
Emarat Al-Youm | 28 July 2009 | Arabic
Citadel Capital Managing Director and Co-Founder Hisham El-Khazindar speaks with leading daily Emarat Al-Youm about the firm’s strategy and its platform investments in 14 countries across the region.... [read] - IFC Invests US$ 24 mn in ASEC Algeria
Al Mal | 2 July 2009 | Arabic
The investment will be used for construction of a new cement plant to be built by ASEC Algeria. Abdalla ElEbiary, Managing Director at Citadel Capital, is quoted. ASEC Algeria is a portfolio company of ASEC Cement, Citadel Capital’s platform company for investments in the regional cement industry.... [read] - Is Gozour Headed for Africa?
Al Alem Al Youm | 29 June 2009 | Arabic
Interview with Gozour CEO Mohamed El-Rashidi tackles possible acquisitions in Africa, the Enjoy deal, recent challenges in the food industry and Enjoy’s potential for growth.... [read] - NRTC Secures Loan to Finance Fleet Construction
Zawya | 14 July 2009 | English
National River Transportation Company (NRTC), one of Citadel Capital’s transportation and logistics Platform Companies, announces it has obtained an EGP 325 million syndicated loan to assist in the financing of part of its planned fleet of over 90 state-of-the-art, environmentally friendly river transport barges. ... [read] - EGB Partners with Citadel Capital on Microfinance
Daily News Egypt | 3 July 2009 | English
The Egyptian Gulf Bank’s CEO discusses the bank’s microfinance partnership with Citadel Capital portfolio company Tanmeyah as well its exploration of the mortgage finance industry.... [read] - Gozour Acquires Egypt’s Enjoy
Zawya | 27 June 2009 | Arabic
Gozour, Citadel Capital’s platform company in the regional agriculture and foods industry, has acquired Enjoy in an EGP280 million deal, including Enjoy’s debt restructuring.... [read] - All in Good Taste
Business Today Magazine | 13 April 2009 | English
Designopolis brings some of the world’s high-end furniture stores to Egypt and plants them all in one spot. The concept of creating a specialized home furnishings destination in Cairo began three years ago, says Mohsen El-Sehrawy, commercial director of Bonyan for Development and Trade, a platform company of Citadel Capital and the developer of Designopolis.... [read] - Sphinx Fund Gives Bankers Hope
Alem Al Mal | 12 April 2009 | Arabic
The author writes that the launch of the Sphinx Turnaround Fund, a US$ 100 million fund sponsored by Citadel Capital to target opportunities among Egypt’s SMEs, has sparked new hope among bankers eager to sell distressed assets with turnaround potential.... [read] - Citadel Capital Sees Opportunities in Iraq
The Guardian (Reuters interview) | 27 March 2009 | English
In an interview with Reuters, Citadel Capital Chairman and Founder Ahmed Heikal is quoted as saying, “We’re looking … we’re exploring investment opportunities in Iraq for oil and gas.” Heikal says the firm sees opportunities to invest in Iraq’s oil and gas sector and in the mining, agriculture and retail sectors in select areas of Africa. ... [read] - Transactions in the Middle East Beat Trend and Remain Stable Despite Debt Drought
Financial News (Online Edition, Dow Jones publication) | 16 March 2009 | English
Citadel Capital’s US$ 1.4 bn sale of Egyptian Fertilizers Company is noted as the biggest deal — and the only transaction worth more than $1 billion in the region.... [read] - Private Equity Players Should Protect Existing Ventures
Gulf News | 11 March 2009 | English
Citadel Capital Managing Director and Co-Founder Hisham El-Khazindar discusses how private equity players are “focusing on protecting existing investments this year, rather than on drawing on capital to fund new investments.” Hisham is quoted as saying the firm “has invested over $1 billion in improving existing companies in its investment portfolio, including add-ons or expansions.” He adds that “Citadel’s strategy in 2009 will be to make smaller, more phased investments, which would require a minimal initial outlay but with the potential to be developed over phases.”... [read] - “Grow the Top Line Fast” is the key
Financial Times | | English
Citadel Capital Chairman and Founder Ahmed Heikal outlines the firm’s growth strategy for the Financial Times... [read] - Winning the Private Equity Game
Institutional Investor | June 2008 | English
Ahmed Heikal explains how Citadel Capital transforms national companies into regional players... [read] - Citadel Capital Launches a New Fund to Attract Gulf Investments
Al-Raya (Kuwait) | | Arabic
Ahmed Heikal, Citadel Capital’s Founder and Chairman, on why the firm decided to raise its first permanent fund... [read]