Global Capital Management (GCM), the alternative asset management arm of Global Investment House, has sold its 93.27 percent stake in financial services provider Jordan Trade Facilities Company to Jordan-based Invest Bank for US$29 million. GCM originally acquired a majority stake in the company in 2008 through Global MENA Financial Assets,… Read More
Global growth markets investor The Abraaj Group has agreed to sell an 80 percent stake in commercial aircraft maintenance, repair and overhaul facility manager Jordan Aircraft Maintenance to United Arab Emirates-based aerospace company Dubai Aerospace Enterprise. Financial details of the transaction were not disclosed. Read More
Private equity firms AfricInvest and Siparex have invested EUR1.7 million (approximately US$1.9 million) in Tunisia-based aluminum products manufacturer Menuiserie Aluminium du Sud (MAS). The investment was completed in June 2016 and structured through Fonds de Co-Localisation Franco-Tunisian, which is co-managed by AfricInvest and Siparex. MAS will use the new capital… Read More
Algeria-based pharmaceutical manufacturing and distribution company Biopharm, which is backed by private equity firms Development Partners International (DPI), EuroMena and Mediterrania Capital Partners (MCP), has completed a listing on the Algiers Stock Exchange. The shares listed represent 20 percent of the company’s equity and are valued at DZD6.3 billion (approximately… Read More
In this Bulletin, our contributors focus on: Debt investment in India and whether Mauritius is now and will in future be a preferred investment route: Reviewing a protocol amending the agreement between India and Mauritius in relation to double taxation and challenges presented by India’s General Anti-Avoidance Rules, the treatment… Read More
By Cindy Valentine and Ravi Chopra, King & Wood Mallesons Although permanent capital structures have been used in Europe and the US for many years in various forms, emerging markets have trailed developed markets when it comes to alternative structures. While managers in emerging markets have been talking about,… Read More
MENA-focused venture capital firm Wamda Capital has led a US$5 million financing round for Jordan-based online media producer Kharabeesh. Endeavor Catalyst, the philanthropically-funded co-investment vehicle of global investment and entrepreneurship network Endeavor, and seed investor DASH Ventures also participated in the round. Kharabeesh will use the new capital to expand… Read More
Egypt-focused private equity fund manager BPE Partners has partnered with Daikin Europe, a wholly-owned subsidiary of Japan-based air conditioning equipment manufacturer Daikin Industries, to establish Daikin Air Conditioning Egypt. The subsidiary, which began operations in August 2016, will focus on expanding Daikin’s business within Egypt, as well as the broader… Read More
Private equity firm Nordwind Capital has led a financing round for Iran-based online printing services provider ChapAgha.com (Mr. Print). The company will use the new capital to acquire new printers, expand its product line and develop a mobile application. Financial details of the transaction were not disclosed. … Read More
Venture capital firm 500 Startups has invested in United Arab Emirates-based flower and gift online marketplace Joi. The platform will work with offline vendors who want to expand into online delivery. Financial details of the transaction, which was structured through 500 Startups’ global fund and 500 Falcons fund, were not… Read More
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