Middle East and Africa-focused private equity firm Citadel Capital SAE, Qatari investment bank QInvest and other Qatari investors have agreed to form a joint venture to construct and own a Floating LNG Storage and Regasification Unit (FSRU) in Egypt. The new FSRU will regasify liquid natural gas and market… Read More
letter from the chairman This issue of the Legal and Regulatory Bulletin follows on a full week of very well attended and highly engaging EMPEA summits in London in late October. The topic of risk figured prominently during many of the sessions, with commentary ranging from tactical suggestions for identifying… Read More
In the past, managers promoting private funds in most countries in the Middle East—with the notable exception of Saudi Arabia—have not found much difficulty navigating local rules. Foreign fund managers would typically fly in, meet with clients, sign subscription agreements, and fly out a few days later without worrying… Read More
Middle East-focused venture capital firm Middle East Venture Partners (MEVP) has completed four Series A investments during the third quarter of 2012. MEVP invested in two Lebanese companies: Wixel Studios, a developer of games for tablets and smartphones, and Shahiya.com, a website and mobile application for sharing user-generated Arabic… Read More
Global Capital Management invested US$53.8 million for a majority (51%) stake in the company. Company Headquarters: Oman Business focus: Steel tube and structural products Revenue: US$237 million in 2011 impact highlights Global guided Jazeera Steel through a sharp contraction in the world steel market, reduced its borrowing costs by more… Read More
United Arab Emirates-based alternative investment manager Investcorp will acquire a 35 percent stake in Kuwaiti vehicle leasing and rental company Automak through its US$1 billion Gulf Opportunity Fund. Automak operates a fleet of over 4,500 vehicles. The investment marks Investcorp’s second in Kuwait after its 2009 investment in Gulf… Read More
Middle East and Africa-focused investment firm Blakeney Management and J. P. Morgan Asset Management, the asset management arm of JPMorgan Chase, have invested over US$20 million into the United Arab Emirates-based online shopping service Namshi. Namshi sells designer clothing, shoes and accessories from over 400 international brands to customers… Read More
The European Bank for Reconstruction and Development (EBRD) has announced its first investments in Jordan, Morocco and Tunisia. The EBRD has committed EUR20 million (approximately US$26.2 million) to the Maghreb Private Equity Fund III, a North Africa-focused private equity fund managed by Tunisia-based AfricInvest-TunInvest Group, which is targeting EUR200… Read More
InfraMed, an infrastructure investment vehicle focused on the Mediterranean region, and Cyprus-based renewable energy developer EP Global Energy (EPGE) have invested in the development of a 114 MW wind project in Jordan through a joint venture special purpose vehicle. InfraMed will control 49 percent of the venture with the… Read More
(default archive template)