Citadel Capital Notches Two Awards to Start 2010

emeaFinance recognizes Citadel Capital as Africa's Best Private Equity House for the third consecutive year, while the firm's innovative transport and logistics investment is named African Infrastructure Deal of the Year by Infrastructure Investor

Citadel Capital (CCAP.CA on the Egyptian Stock Exchange), the leading private equity firm in the Middle East and Africa with more than US$ 8.3 billion in investments under control has been awarded Infrastructure Investor magazine’s African Infrastructure Deal of the Year for its investment in Nile Logistics, the firm’s Platform Company in the logistics, river transport and port management sector in Egypt and Sudan.

Citadel Capital, which controls investments in 14 countries spanning 15 industries, was also named Best Private Equity House in Africa for the third year running by emeafinance, the emerging Europe, Middle East and Africa finance magazine.

“We are proud to be building a project that is critical to improving the efficiency and capacity of transport in Egypt and Sudan,” said Citadel Capital Chairman and Founder Ahmed Heikal, referring to Infrastructure Investor’s recognition of Nile Logistics. “Our growing transportation and logistics operations will not only facilitate national and international trade, but also help catalyze faster growth in the region by unlocking the latent potential that is currently constrained by poor infrastructure and high transportation costs.”

Nile Logistics, formerly known as the National River Transportation Company, will capitalize on the region’s underdeveloped and underutilized river transport sector as limited investment in river infrastructure combined with government fuel subsidies have led to a dependency on other forms of transport, particularly trucking. At present, less than 1% of goods in Egypt and Sudan are transported by river, whereas more developed countries with major waterways such as the Netherlands, Germany and Belgium rely on river transport for between 15-45% of their needs.

Citadel Capital’s investments in river transportation and logistics are only one part of its broad focus on high-potential industries across the Middle East and Africa. Recognition as emeafinance magazine’s Best Private Equity House in Africa highlights the firm’s strategic investment activity across a number of sectors over the past year, despite difficult economic conditions as fallout from the global economic crisis spilled over into the region.

Citadel Capital significantly expanded operations and capacity at Gozour, its regional agriculture and consumer foods platform, acquiring Enjoy (a leading Egyptian milk and juice producer) and Al-Musharraf (Sudan’s largest confectionery brand). Gozour also opened a greenfield investment that stands as the region’s most advanced jam and tomato paste factory. Also last year, Wafra, Citadel Capital’s Platform Company for agricultural production, acquired more than 500,000 feddans of agricultural land in Sudan.

Among other developments in 2009, the firm launched Tanmeyah, a greenfield micro credit company that already has a nation-wide presence in Egypt and is now preparing to expand throughout the region. The company’s branches in the Greater Cairo Area and the Delta presently employ more than 200 people across seven of Egypt’s governorates. By year-end 2009, Tanmeyah had opened a total of 48 branches and grown its portfolio of outstanding loans to US$ 9.1 million across 32,000 clients.

Citadel Capital finalized last year the acquisition of two technically advanced solid waste management companies, ECARU and ENTAG, with substantial operations in Egypt as well as international experience that includes work in Malaysia, Sudan and Libya. The two now form the core of Tawazon, Citadel Capital’s eighteenth platform company.

The emeaFinance and Infrastructure Investor awards are a strong start to this year’s awards season. In 2009, the firm was named MENA Private Equity House of the Year by both Private Equtiy World MENA / Terrapinn and Acquisitions Monthly and Best Private Equity House in Africa by emeaFinance, African Banker and Global Investor magazines.

Citadel Capital is the largest private equity firm in Africa as independently ranked by Private Equity International’s PEI300, the annual ranking of the largest international private equity firms based on funds raised in the previous five years

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Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity Specific Funds. Citadel Capital’s 19 OSFs now control Platform Companies with investments worth more than US$ 8.3 billion in 14 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, the firm has generated more than US$ 2.5 billion in cash returns to its co-investors and shareholders (on investments of US$ 650 million), more than any other private equity firm in the region. Citadel Capital is the largest private equity firm in Africa by PE assets under management (2004-2009, as ranked by Private Equity International). For more information, please visit www.citadelcapital.com.

For more information, please contact:

Ms. Ghada Hammouda
Head of Corporate Communications,
Citadel Capital (S.A.E.)

g...@qalaaholdings.com (click to reveal this email)

Tel: +20 2 2791-4440 begin_of_the_skype_highlighting              +20 2 2791-4440      end_of_the_skype_highlighting • Fax: +20 22 791-4448
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