09 Jul 2012
(MENAFN) Hong Kong-based private investment fund HPF agreed to acquire Jordan Dubai Capital for USD130 million, Reuters reported.
HPF had allocated USD150 million to seek projects with up to seven-year timespans in Egypt, Libya, Morocco and other countries.
Mahesh Harilela, a majority holder in HPF said that the deal will give the January-set up fund the opportunity to expand its portfolio in the Middle East, where it was targeting investment areas such as infrastructure and real estate development.
The deal, which will retain the Amman-based firm’s management, did not require Jordanian regulatory approval, he added.
Jordan Dubai Capital, set up in 2005 by Dubai Capital, has been giving up most of its once USD1.5 billion portfolio since the wake of the global financial crisis of 2008.
The private equity firm’s largest divestment was the sale last year of a 51 percent stake in Jordan’s Central Electricity Generating Company (CEGCO), the country’s largest power generating firm.
17 Nov 2024
BBK and Asia Jewellers announce exclusive offers to its customers at Jewellery Arabia 2024
12 Nov 2024
BBK partners with Durrat Al Bahrain to offer exclusive financing for Jawhart Al Marjan
05 Nov 2024
As part of its digital transformation journey, BBK adds Google Wallet to its range of digital wallets
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more