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Egypt’s Citadel Capital sells two minority stakes for $55m Egypt’s Citadel Capital sells two minority stakes for $55m

08 Dec 2009. Source: AltAssets
Egyptian private equity firm Citadel Capital has made $55m from the sale of a six per cent stake in ASEC Holding and a six per cent stake in United Foundries Company, according to an emailed statement obtained by Reuters.

The buyer in this transaction was Abu Dhabi-based Emirates International Investment Company.

Last month, Citadel acquired 75 per cent of Al-Musharraf, one of Sudan's largest producers of Middle Eastern confectionary halawa, biscuits and flour, for $19m in a bolt-on deal.

The firm also acquired a controlling stake in two solid waste management businesses - The Egyptian Company for Solid Waste Recycling (ECARU) and the Engineering Tasks Group (ENTAG) – in November, for an undisclosed sum.

Citadel is one of the key players in its geography and oversees more than $8bn in investments.

Copyright © 2009 AltAssets

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