Citadel Capital: Talks with Abraaj Capital Have Ended
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%.
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%.