Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading investment company in Africa and the Middle East, confirmed today that it will potentially establish a new subsidiary “Citadel Energy” to consolidate its core downstream energy investments and fuel further growth and development.
Citadel Capital is in the midst of serious discussions with Development Finance Institutions to help finance the new entity as part of ongoing efforts to help resolve Egypt’s energy problems.
Any such transaction would only be undertaken if deemed to be value-creating for shareholders of both Citadel Capital and of the subsidiaries in question under the firm’s strategy of transforming into an investment holding company controlling majority stakes in five core industries: energy, transportation, agrifoods, mining and cement.
Citadel Capital will promptly inform the market in the event that any such decision should be made.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading investment company in Africa and Middle East. Citadel Capital controls investments of US$ 9.5 billion and focuses on 5 core industries: Energy, Transportation, Agrifoods, Mining, and Cement. For more information, please visit citadelcapital.com.
|For more information, please contact:
Ms. Ghada Hammouda
Tel: +20 2 2791-4439 • Fax: +20 22 791-4448
Mobile: +20 106 662-0002
Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of the Citadel Capital. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Citadel Capital is subject to risks and uncertainties.