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In the Press
2024
Beirut, Lebanon July 9, 2024
Within their strategic expansion framework, Gray Mackenzie Retail Lebanon (GMRL), the owner of the Spinneys, Happy and Grab n’ Go brands in Lebanon, has announced the acquisition of NokNok, an online grocery shopping platform known for its fast delivery services. This agreement, signed in the first quarter of 2024, marks a significant milestone in GMRL’s strategy to extend its e-commerce presence and enter new market segments. This acquisition underscores GMRL’s commitment to keeping pace with digital development and offering practical and fast solutions to customers.
Its primary objectives are to enhance Gray Mackenzie’s digital footprint, offer innovative services, and diversify product offerings to Lebanese consumers. By integrating NokNok within its operations, GMRL aims to leverage its expertise to provide a smooth and standardized online shopping experience for its customers.
Following the acquisition, NokNok began operating under the Gray Mackenzie umbrella last month. The development plan includes a complete revamp of the application with the introduction of new features, and an expanded range of high-quality services and products.
“We are thrilled to welcome NokNok to the GMRL family,” said Hassan, Chairman of Gray Mackenzie Group. “This acquisition aligns with our vision to lead the retail industry in Lebanon by embracing digital transformation and expanding our reach. We are committed to delivering exceptional value and convenience to our customers through innovative solutions.”
The acquisition of NokNok not only strengthens GMRL’s position in the retail market but also demonstrates its commitment to innovation and customer satisfaction. This strategic move is expected to contribute significantly to the growth of Lebanon’s digital economy and offer unparalleled convenience to consumers.
Broadgate Advisers (No.23 on the CMA’ Financial Intermediaries List) acted as the financial advisor to the buyer in connection with this transaction.
Riyadh, June 26th 2024,
Broadgate Advisers (“Broadgate”) has successfully advised Boston Oncology Arabia (the “Company” or “BOA”), a leading bio-generic drugs manufacturing company based in Saudi Arabia, on a USD 35 million investment from TVM Capital Healthcare (“TVM”).
From its headquarters in Riyadh and production facility in Sudair Industrial City, BOA provides vital medicines for critical conditions through the local development and manufacturing of internationally licensed, best-in-class therapeutics. The Company is contributing to a key goal of Saudi Arabia’s Vision 2030 by supplying critical care medicines through highly flexible, local manufacturing facilities and leveraging its international relationships for licensing from Western and Eastern markets.
TVM will expedite BOA’s move into full formulation and fill and finish manufacturing, and will provide strategic support and leverage its global network to further expand the Company’s access to international suppliers.
Abdullah Baaj, MD, PharmD, Founder & CEO of BOA, commented: “Boston Oncology Arabia’s localization model is specifically designed to create value in complex and competitive markets. TVM’s investment enables us to strengthen our position and bring cutting-edge, specialized manufacturing to the GCC and MENA region, impacting the lives of millions of patients.”
Orhan Osmansoy, Managing Partner at TVM Capital Healthcare, said: “As a fast-growing local bio-generics manufacturer, Boston Oncology Arabia is playing a major role in developing Saudi’s pharmaceutical sector. With an impressive management team, the company is the established leader in therapeutics for oncology and critical care. We are pleased to be on this journey with our co-investors Kanoo Ventures, as Boston Oncology Arabia helps to increase local production, reduce healthcare costs, and improve access to essential pharmaceuticals in the Kingdom.”
Habib Aoun, Head of M&A Advisory at Broadgate, added: “We are proud to have advised Boston Oncology Arabia since its early stages of growth, leading up to this successful transaction with TVM. The high level of interest generated from various strategic and financial investors throughout the process demonstrated the strong global appetite for investments in Saudi Arabia in general, and in the healthcare sector in particular.”
Boston Oncology Arabia, is a bio-generic drugs manufacturing company. with headquarters in Riyadh and a production site in Sudair Industrial City, developing internationally licensed specialty drugs locally (including generics and biosimilars), supplying crucial medicines for critical illnesses.
Broadgate Advisers is a subsidiary of Malta based BA Capital Holding PLC, a group holding with subsidiaries active in M&A Advisory, Venture Capital and Wealth Management. Broadgate maintains offices in Europe, Asia and the Middle East.
TVM Capital Healthcare is an emerging markets-focused healthcare private equity firm, headquartered in Dubai and Singapore, with offices in Riyadh and Ho Chi Minh City and supporting offices in Munich and Boston. TVM invests in expansionary and growth capital in healthcare companies improving local acess to quality care and localy supply of medical products in the pharma, medical device and diagnostics sectors.
2023
Beirut, Lebanon – December 20, 2023,
Spinneys Levant Limited, the owner of the Spinneys, Happy and Grab n’ Go brands in Lebanon (the “Group”), has successfully raised growth capital from Merit SAL against a minority stake in the Group, for an undisclosed consideration.
The growth capital will be primarily used to enter and expand into the Iraq market.
Since its entry into the Lebanese market in 1948, Spinneys established itself as a pioneer in the mass grocery retail sector in the country, being the first to introduce the concept of hypermarket. The company operates the largest supermarket chain in Lebanon with one of the most recognized brands, through a network of over 55 stores across the Lebanese territory, with various formats including hypermarkets, supermarkets, discount stores and convenience stores.
Broadgate Advisers (No.23 on the CMA’ Financial Intermediaries List) acted as the financial advisor to the seller in connection with this transaction.
Kuala Lumpur, April 27th, 2023,
Broadgate Advisers (“Broadgate”) has successfully advised Asia Digital Engineering Sdn Bhd (the “Company” or “ADE”), a leading aviation maintenance, repair & overhaul (“MRO”) player in Southeast Asia and a wholly-owned subsidiary of Capital A Berhad (“Capital A”), on a USD100 million investment from OCP Asia Ltd (“OCP Asia”).
The investment signing ceremony between ADE and OCP Asia was attended by YB Senator Datuk Seri Utama Tengku Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry Malaysia and Tony Fernandes, CEO of Capital A.
Tony Fernandes, CEO of Capital A said: “During its capital raising exercise, ADE has received strong interest from numerous global investment funds, who have seen the recovery potential of the regional and global airline industry. This investment vindicates Capital A’s strategy of diversifying into more than just an airline”.
Mahesh Kumar, CEO of ADE said: “We are incredibly excited to have secured this significant backing from OCP Asia, which has an extensive investment experience across multiple industries throughout Asia Pacific. The investment from OCP Asia will enable us to construct a new, state-of-the-art 14-line aircraft maintenance hangar facility in Sepang in addition to existing facilities at our core AirAsia operating hubs, making ADE one of the largest aircraft MRO service providers in the region. We are grateful for the support shown by OCP Asia and look forward to a successful partnership. We would also like to thank Broadgate Advisers who acted as our financial adviser throughout this capital raising exercise.”
Rami Jisr, Managing Partner at Broadgate, added: “We are honoured to have assisted ADE on this transaction. It confirms our capabilities and reach in Asia, as this marks our second major transaction in the region in the first half of 2023. Broadgate will continue to focus on this market and further develop cross-border M&A activity across our markets of focus in Europe, the Middle East and Asia”. Azam Malek Azman, Co-Head of Asia M&A at Broadgate, added: “The high interest level generated from various international funds throughout the process further demonstrated Broadgate’s value proposition to operate as one team across multiple offices globally”.
Broadgate Advisers acted as the exclusive financial adviser and ASL as the legal counsel to ADE.
Founded in 2020, ADE is a wholly-owned subsidiary of Capital A based in klia2, Kuala Lumpur, Malaysia. ADE is a cast from AirAsia’s Engineering Department best practices and experience. While ADE was founded in 2020, they have been a solid backbone for AirAsia for over 20 years and counting. ADE offers a broad spectrum of aircraft services such as line maintenance, base maintenance, component repair and overhaul, warehouse management, technical and design organisation services along with digitally driven engineering solutions and engineering support services.
Established in 2009, OCP Asia is an investment manager with a long-term track record of providing financing solutions for enterprises across the Asia Pacific region. With offices in Singapore, Hong Kong and Sydney, the Firm’s franchise has been developed with a commitment to establishing corporate governance incentives through credit facilities which align the best interests of its investors with those of key stakeholders of its portfolio companies.
Broadgate Advisers is a subsidiary of Malta based BA Capital Holding PLC, a group holding with subsidiaries active in M&A Advisory, Venture Capital and Wealth Management. Broadgate maintains offices in Europe, Asia and the Middle East.
Kuala Lumpur, February 23rd, 2023
Broadgate Advisers (“Broadgate”) has successfully advised the shareholders of China-based Tianjin Globe Express Services Logistics Co., Ltd (“TGES” or the “Company”) on the sale of a 100% stake in the Company to SEHK-listed global logistics group, Kerry Logistics Network Limited (“Kerry Logistics”).
Established in 2011, TGES is an integrated logistics company engaged mainly in the storage and transportation of chemicals and other dangerous goods for a wide range of blue-chip customers in the petrochemical, industrial, bio-pharmaceutical and automotive industries. The acquisition will strengthen Kerry Logistics’ national chemical transportation network as well as its cross-border chemical logistics capabilities.
On this occasion, Broadgate’s Head of M&A Advisory, Habib Aoun, said: “We are happy to have supported the shareholder of TGES on this strategic exit. The transaction is an important milestone in our plan to further expand transaction coverage and execution across Asia”. Nik Ibrahim, Co-Head of Asia M&A at Broadgate, added: “This transaction further demonstrates our cross-border M&A advisory capabilities and the strong synergies across Broadgate’s global offices.”
Broadgate Advisers acted as the exclusive financial advisor, Dentons as the legal counsel, and Grant Thornton as the tax advisor, to the shareholders of TGES.
Kerry Logistics is an Asia-based global 3PL offering a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail, and multimodal), e-commerce and express to industrial project logistics and infrastructure investment, with a global presence in 59 countries and territories in China, India, Southeast Asia, CIS, Middle East, LATAM, among others.
Kerry Logistics generated a revenue of over HK$81 billion in 2021 and is the largest international logistics company listed on the Hong Kong Stock Exchange.
Tianjin Globe Express Services Co. Ltd is an integrated logistics company, based in Tianjin, China. The company is engaged in chemicals and other dangerous goods storage, transportation, and related value-added services, servicing a wide range of blue-chip customers in the petrochemicals, paint coatings, bio-pharmaceutical, and automotive industries.
Broadgate Advisers is a subsidiary of Malta based BA Capital Holding PLC, a group holding active in M&A Advisory, Venture Capital and Wealth Management with
offices in Europe, Asia and the Middle East.
2022
Abu Dhabi, October 4th, 2022
BY Venture Partners / Broadgate Advisers announced today the appointment of Ziad Debbas as Senior Director, heading MENA coverage, effective October 2022.
Mr. Debbas will be based in the UAE and will be responsible for business development across Venture Capital, M&A advisory, and Wealth Management services. In his new role, he will work closely with the various teams to actively drive their expansion plans and coordinate inbound and outbound business development from MENA into the other regions we serve in Europe and Southeast Asia.
Mr. Debbas brings more than 25 years of experience in executive leadership, operational management, and consulting. Most recently, he has been a Senior Advisor to Alvarez & Marsal Middle East supporting the regional expansion of the firm’s Turnaround & Restructuring practice. Prior to that, Mr. Debbas was the CEO of Debbas Holding, leading his centennial family group’s rapid international expansion in the GCC, India, and Africa. Mr. Debbas began his career in management consulting with Arthur D. Little International in Saudi Arabia and is an active entrepreneur having founded two technology start-ups.
“Ziad is a great senior addition to our team,” said Rami Jisr. “His extensive hands-on experience as an entrepreneur, CEO, and advisor will be central to our ability to nurture and support our portfolio companies, manage and expand our investor base, and grow our investment banking and wealth management services.”
Mr. Debbas holds an undergraduate degree in Finance from Concordia University in Montreal and an MBA from Harvard Business School.
An established Advisory, Venture Capital and Wealth Management Services firm offering its service to institutional investors, families, and sophisticated investors. Founded in 2015, the group is headquartered in Malta and maintains operating subsidiaries in Geneva, Abu Dhabi, Beirut and Kuala Lumpur.
Geneva, September 28th, 2022
We are pleased to announce that Broadgate Advisers has advised London-based Threads Styling Ltd. (“Threads”) on the sale of a majority stake to Chalhoub Group (“Chalhoub”). Chalhoub acquired all shares of Threads, with the exception of shares owned by its Founder and CEO, Sophie Hill.
The acquisition will significantly strengthen Threads’ proposition within the GCC and enhance its capabilities globally. Chalhoub’s deep customer and market knowledge combined with Threads’ high-touch customer experience and online presence will provide an outstanding experience to consumers and brand partners. This partnership reinforces Chalhoub’s digital acceleration drive, expands its existing online ecosystem, and brings new capabilities and opportunities for customer engagement and personalization.
On this occasion, Broadgate’s Managing Partner, Rami Jisr, has said: “We are happy to have supported Threads and Sophie. The transaction delivered an exit to the VCs and early backers and brought in a very strong strategic investor to position Threads for its next phase of growth and success”. Habib Aoun, Head of M&A Advisory at Broadgate, added: “This successful closing reinforces Broadgate’s capabilities in cross-border M&A, connecting companies and investors across the markets we serve. This is part of a new focus at Broadgate, assisting tech-driven companies in their fundraising efforts or exit plans to strategic groups”.
Broadgate Advisers acted as financial advisor and Latham & Watkins as legal counsel to Threads. Rothschild & Co acted as financial advisor and Freshfields Bruckhaus Deringer as legal counsel to Chalhoub.
Broadgate Advisers SA is a subsidiary of Malta based BA Capital Holding PLC, a group holding active in M&A Advisory, Venture Capital, and Family Office services across multiple markets in Europe, Asia and the Middle East. www.broadgateadvisers.com
Launched by Founder and CEO Sophie Hill in 2009, Threads offers a personalised luxury shopping and styling service. The company creates market leading style content to inspire Millennial and Gen Z clients across its channels including Instagram, Snap and TikTok where Threads successfully positions itself as an authentic voice in fashion.
Chalhoub is a privately owned luxury goods retailer and distributor, headquartered in Dubai, UAE. As one of the largest luxury retailers, Chalhoub is a leading partner for luxury across the Middle East for over 60 years, playing a crucial role in developing the luxury sector in the region
Geneva, July 13th, 2022
BROADGATE ADVISERS
Bernard Renaud joins Broadgate Advisers as Director, Head of Quantitative Strategies Broadgate announces the appointment of Bernard Renaud, as head of Quantitative strategies. Bernard has more than 15 years of professional experience in Asset Management, Quantitative Finance, Risk Management and Programming.
Bernard will be responsible for developing Broadgate’s quantitative research, asset management capabilities and leading its innovation in the field.
Prior to joining Broadgate Advisers, he served as Quantitative Strategist at Autonomy Capital a Global Macro Hedge Fund. Before that, he has served 16 years at Pictet & Cie, first as a Risk Manager, CIO Office, then as an Investment Analyst, in charge of construction, optimization and monitoring of absolute return mandates, development of option strategies, conducting quantitative research, in addition to steering an artificial intelligence project committee.
Bernard is a CFA Charter holder, holds a bachelor’s in computer sciences, a Certificate in Quantitative Finance from the CQF Institute and a Certificate in Algorithm Trading from University for Applied Sciences Saarland.
RIYADH: Saudi Arabia has become one of the most attractive markets for international companies seeking new mergers and acquisitions and is set to maintain this position in 2022. The country’s growth stood at 6.8 percent for the third quarter, driven by rising global demand for crude oil, ambitious Saudi Vision 2030 targets, efforts to reduce dependence on hydrocarbons through non-oil sector development, and advances in combating COVID-19. This sets Saudi Arabia up for continued growth in M&A activity in the coming year.
“The Saudi market is probably one of the most active M&A markets in the region, along with the UAE and Egypt,” said Fikry Younis, the Riyadh-based partner of Lumina Capital Advisers. Economist Robert Mogielnicki from the Arab Gulf State Institute in Washington notes that the most notable areas for M&A activity in Saudi Arabia are the energy and technology sectors. “Saudi Arabia possesses a comparative advantage in the energy sector and aims to monetize its energy assets. Technology firms are thriving globally, and Saudi Arabia is pushing to become a global technology hub,” he added.
According to Younes, Saudi Arabia is witnessing M&A activity across all sectors, with a focus on social infrastructure — including healthcare, education, and logistics — as well as tourism, entertainment, sports, Environmental, Social, and Governance (ESG) investing, and green energy. There is also significant activity in technology, which supports other sectors such as healthtech, edutech, and fintech. Tourism is expected to contribute more than 10 percent of Saudi Arabia’s GDP by 2030 through projects like Neom — a $500 billion futuristic city with a nature reserve, heritage sites on islands in the Red Sea, and a major entertainment and sports project called Qiddiya. The Kingdom plans to invest over $1 trillion in the tourism sector over the next decade.
Habib Aoun, partner at Broadgate Advisers, points out that in terms of deal value, energy and materials remain the most buoyant sectors, driven by strategic acquisitions involving governmental entities like ARAMCO. However, in terms of deal count, there is significant demand for assets in the consumer, healthcare, education, and ICT sectors, both from strategic and financial investors.
“Saudi Arabia has always been and remains one of the main M&A markets in the region, driven by its large population, numerous government initiatives, and the recent recovery in oil prices,” says Aoun. He estimates that in 2021, there were $44 billion of announced deals in the Kingdom, compared to $75 billion for the entire Middle East and North Africa (MENA) region, including Saudi Arabia.
The largest announced transactions this year include the acquisition of a 49 percent stake in Aramco’s Oil Pipeline Co by a consortium led by EIG Global Energy; the acquisition of an Aramco portfolio of gas assets by US-based Air Products and ACWA Power; and the acquisition of a 50 percent stake in Saudi National Petrochemical Company by the Saudi Industrial Investment Group. Additionally, the Saudi British Bank, an HSBC Holdings affiliate, completed its merger with Alawwal Bank, and the National Commercial Bank merged with Samba Financial Group to form Saudi National Bank, which will account for 25 percent of the market share with a combined equity of SR120 billion ($31.96 billion).
Notable mid-cap deals include the sale of Naturepack Beverage Packaging to Norway-based Elopak; HSBC’s asset management business to Alawwal Invest; Saudi Enaya Cooperative to Amana Cooperative; and Fourth Milling Co. to a consortium of Saudi strategic Agri investors. In education, King’s College Riyadh — an offshoot of Dorset King’s College — became the first British boarding school in Saudi Arabia. Additionally, Saudi Arabia’s Tourism Development Fund and London hospitality company Ennismore established a $400 million fund to bring Ennismore’s lifestyle brands to the Kingdom.
“Mega deals like the Samba-NCB merger and PIF’s acquisition of Newcastle United attract the most publicity; however, many private deals of all sizes are occurring below the radar,” says Younes. Vision 2030 is a major driver of M&A activity in Saudi Arabia, with localization of know-how being a core pillar. Many sub-industries across the manufacturing spectrum, such as chemicals, materials, and pharmaceuticals, are benefiting from governmental initiatives. Infrastructure, including telecom, education, and tourism, as well as healthcare, are expected to benefit from Vision 2030. Despite the impact of COVID-19, most sectors have recovered well in 2021.
M&A activity in Saudi Arabia is both inbound and cross-border, with examples such as Saudi companies’ deals with their Omani counterparts worth $10 billion. “Within Saudi Arabia, investors and family offices are reviewing their portfolios and divesting from non-core assets to focus on expanding core assets,” says Younes. “Cross-border activity involves scaling in Saudi Arabia to capture opportunities arising from Vision 2030. International investors are coming to Saudi Arabia to benefit from unprecedented growth, while local investors are investing abroad to bring expertise and capabilities to the Kingdom.”
Aoun forecasts a positive outlook for M&A activity in the Kingdom, driven by current oil price levels and the government’s ongoing modernization efforts, positioning Riyadh as the financial capital of the region.
2021
UAE – Mubasher: The World Bank Group’s International Finance Corporation (IFC) hasteamed up with SBI Ventures Singapore for an equity investment in Dubai-based Global Market Access Network (GMA).
This investment is expected to financially and strategically back the global expansion drive of GMA’s Global Trading Network (GTN), according to a press release.
GTN is working on its expansion plan to cover all electronically tradable markets and instruments worldwide by the end of 2022.
Chairman of GMA Group, Mohammed Rasheed Al Ballaa, said: “GMA is excited to have investors of the stature of IFC and SBI join its global expansion drive. Being part of the World Bank Group and an experienced FinTech investor in the emerging and frontier markets, IFC is uniquely positioned to provide strategic insight to GTN.”
Al Ballaa added: “SBI, one of the most innovative technology-driven financial services companies with extensive investment experience globally, brings substantial strategic value to GTN.”
The network is a fintech-powered global trading and investment ecosystem which provides financial institutions and corporate clients across the globe with access to global markets under a unified platform, which is a service on a business-to-business (B2B) and business-to-business-to-consumer (B2B2C) model. The platform aims to cater for democratising global trading and investment while focusing on emerging and frontier markets.
Group CEO of GMA, Manjula Jayasinghe, noted: “GTN platform empowers financial institutions and corporate clients with turn-key access to global markets for their customers. With complete market coverage across asset-classes by the end of 2022, GTN will be the most comprehensive electronic trading and investment platform globally.”
Jayasinghe added that GTN will be “ideally positioned to facilitate the increased trading and investment flows between countries and provide a much-needed boost to the capital markets, especially in the emerging and frontier world.”
Managing Director of IFC, Makhtar Diop, meanwhile said: “As IFC’s first fintech investment in the capital markets technology sector in the Middle East, our partnership with GMA and SBI sits at the nexus of many of our priorities – from developing and deepening capital markets, to fostering innovation and digital transformation, and promoting cross-border investment flows.”
Representative Director, President, and CEO of SBI Holdings, Yoshitaka Kitao, noted: “We are excited to partner with IFC and GMA for the global expansion of GTN. GTN is a FinTech driven platform business with substantial scalability. SBI Group is a strong advocate of using technology to disrupt traditional business models; GTN business model fits well with SBI Group strategy.”
We are pleased to announce the establishment of our new office in Kuala Lumpur, Malaysia. Located in Menara BRDB in the Bangsar area, the new office will expand our investment banking services in South East Asia (“SEA”), covering Malaysia, Indonesia, Singapore, Vietnam, Philippines, etc., and will offer a comprehensive range of corporate finance advisory services including among others, M&A advisory, capital raising, and financial restructuring.
Following the expansion of our operations to Europe with the launch of our Geneva setup in 2019, Asia has been an area of key strategic focus for our firm, given its diverse and fast-growing markets. We expect SEA in particular to continue to experience high economic growth, significant financial markets activity, and increasing cross-border deal flow. Our new office will enable Broadgate to build on its existing track record in SEA to expand its services and offer clients in Europe and the Middle East wider access to international investment opportunities in key growth regions and cross-border transaction execution capabilities.
The office will be led by Azam Malek Azman and Nik Ibrahim NM Din, who joined Broadgate from Ekuiti Nasional Berhad, a leading private equity firm in Malaysia, where they held Director roles. Prior to that, Azam and Nik held various leadership positions in local and global organizations, accumulating valuable experience in investment banking and advisory services across various industries.
Abu Dhabi, UAE and Beirut, Lebanon; January 20, 2021: Bank Audi sal (Bank Audi) and First Abu Dhabi Bank (FAB) have announced the signing today of a definitive agreement for the acquisition by FAB of 100% of the share capital of Bank Audi sae, Bank Audi’s subsidiary in Egypt.
This agreement follows the completion of an in-depth due diligence exercise conducted by FAB on Bank Audi sae (Egypt) after obtaining the preliminary approval of the Central Bank of Egypt. The transaction is expected to be completed within the next few months, following the satisfaction of customary conditions, including the receipt of regulatory approvals in the UAE and Egypt. Any further updates with regards to the completion of the transaction shall be provided in due course.
André Sayegh, Group Chief Executive Officer, FAB, said: “FAB has a long history in Egypt, having opened its first branch in the country more than 45 years ago. FAB’s first international acquisition accelerates the Group’s expansion in a high potential market, with the addition of Bank Audi (Egypt)’s operations offering the scale, expertise, and financial strength to support our growth journey and sustainable returns. FAB is committed to supporting customers in Egypt across a full range of retail and corporate banking needs, as well as serving as a bridge for trade and investment flows across the MENA region and beyond.”
Samir Hanna, Chairman and Group CEO of Bank Audi, stated: “This transaction represents the best outcome for all our constituencies, in particular our customers and our employees in Egypt based upon the challenges we have been facing in Lebanon for the past 16 months.” He added: “This transaction also represents a strong vote of confidence in the effectiveness of the Group’s governance and business model across the region.”
This acquisition will significantly increase the size and scale of FAB’s operations in Egypt, making it one of the country’s largest foreign banks by assets with pro-forma total assets of more than EGP 120 billion (USD 8.1 billion). The proceeds of the sale will contribute to the enhancement of Bank Audi Group’s capitalization and financial resilience.
As at end-September 2020, Bank Audi sae (Egypt) had total assets of EGP 83.2 billion (USD 5.3 billion) and shareholders’ equity of EGP 7.6 billion (USD 479 million). Its established Retail and Corporate Banking propositions, and network of 53 branches, complement FAB’s well-established operations in Egypt of 17 branches and a presence dating back to 1975.
First Abu Dhabi Bank and UBS AG (London Branch) acted as financial advisers, while Freshfields Bruckhaus Deringer LLP and Matouk Bassiouny & Hennawy acted as legal advisers to FAB on the transaction.
EFG Hermes acted as sole financial adviser, while Dechert LLP and Zulficar and Partners acted as legal adviser to Bank Audi on the transaction. JPMorgan rendered a Fairness Opinion to Bank Audi, while Broadgate Advisors offered advisory services to Bank Audi in connection with the transaction..
2020
Capital Bank Group and Bank Audi Group have announced the signing of the definitive agreements for the acquisition by Capital Bank of the operations of Bank Audi’s Jordan Branch Network, and the acquisition by the National Bank of Iraq – a subsidiary of Capital Bank Group – of the operations of Bank Audi’s Iraq Branch Network, including the purchase of the assets and liabilities of these branches. The completion of these transactions remains subject to the receipt of the final approval of the related supervisory and regulatory authorities.
The agreements were signed by H.E. Mr. Bassem Khalil Al-Salem, Chairman of Capital Bank Group, and Mr. Samir Hanna, Chairman and Group CEO of Bank Audi, who both confirmed that the acquisitions were achieved after an in-depth due diligence exercise conducted in accordance with the applicable legislations, and after obtaining the preliminary approvals of the Central Bank of Jordan and the Central Bank of Iraq.
Al-Salem stated on this occasion that “this agreement is in line with Capital Bank’s expansion strategies regionally and locally, ultimately strengthening its competitive position. This acquisition is a first in the Iraqi banking sector, and will only serve to support the National Bank of Iraq even further. The move will also enhance the steadfastness of Capital Bank Group’s financial indicators, allowing it to continue providing innovative and efficient banking services to corporate and individual customers, as well as the continued development of products and solutions supported by the Bank’s bold digital transformation policy.”
Commenting on the agreement, Hanna explained that “these transactions further reinforce our Bank’s role in facing the considerable challenges Lebanon has been exposed to for over a year now.” He added: “The selection of Capital Bank as exclusive bidder on this transaction was made taking into account the business continuity of Bank Audi’s entities in Jordan and Iraq, and the interests of their stakeholders, employees and customers alike, in addition to the beneficial impact which the transaction is expected to have on their future business development.”
In turn, Mr. Dawood Al Ghoul, Capital Bank’s Chief Executive Officer, assured that all of Bank Audi’s clients’ accounts would be retained along with its staff. “We will honor all commitments towards clients that were contracted by Bank Audi’s units in Iraq and Jordan as they are,” he said.
Both Messrs. Al Salem and Hanna seized this opportunity to thank the Central Bank of Jordan represented by its Governor, H.E. Dr. Ziad Fariz Al Akram, the Central Bank of Iraq represented by its Governor, H.E. Mr. Mustafa Ghaleb, as well as the Central Bank of Lebanon represented by H.E. Governor Riad Salameh, and their deputies, for their unwavering support of the operation.
Pursuant to these agreements, Capital Bank Group acquires the operations of Bank Audi – Jordan Branch Network and Bank Audi Iraq Branch Network encompassing 14 branches in Jordan and 5 branches in Iraq, which brings the total number of Capital Bank’s branches to 28 in Jordan and the total number of National Bank of Iraq’s branches to 19. At end-September 2020, Bank Audi’s assets in Jordan reached JD 506 million, while those of its Iraq branches reached IQD 275 billion. Accordingly, these acquisitions will contribute to increasing the consolidated assets of Capital Bank to JD 3.6 billion, while its shareholders’ equity will reach JD 400 million.
Madrid, December 21st, 2020 – Applus+, the global testing, inspection and certification company, is pleased to announce the acquisition of the entire share capital of Soil and Foundation Company Limited and Geotechnical and Environmental Company (together “SAFCO Group”) from the founding partners. Completion is expected to take place in the first quarter of next year. SAFCO Group will form part of the Energy & Industry division.
SAFCO Group is the largest and oldest company in Saudi Arabia to provide construction-based testing and inspection services, having built this position over the past 40 years. It provides on-site and laboratory-based testing for the materials used in construction projects as diverse as small commercial buildings to mega projects, as well as soil investigation services and environmental inspection and consulting.
It has a strong reputation and good brand recognition in the industry, which will immediately support Applus+ expansion within the construction, building and environmental products testing services in the region where Applus+ is already present servicing mainly other end-markets. SAFCO Group generated c. €29 million of revenue in 2019 at margins significantly higher than Applus+, and has continued growing revenues over the first 9 months of 2020 despite the disruption of the pandemic, due to its strong footprint within the region through its 16 branches across the country and a well-diversified customer base and favourable end market trends.
Ramon Fernandez, Executive Vice President of the Energy & Industry Division, said: “The SAFCO Group is a well-established, successful and profitable business in the attractive construction market in a country that has many projects planned including for those under Vision 2030, where alongside the additional services that Applus+ can bring to their clients, we see tremendous opportunity for the combined business to expand in the country and the wider region.” Fernando Basabe, Chief Executive Officer of the Applus+ Group, said: “We are delighted to welcome the people of the SAFCO Group to Applus+. This acquisition will help us to continue diversifying the business into markets where we see strong potential for growth and a good strategic fit with Applus+. This rounds off a successful year of acquisitions having completed two before the start of the coronavirus pandemic and four in the last three months culminating in a total revenue acquired of €136 million at a pre IFRS16 EBITDA margin percentage in the low to mid-twenties. We expect to continue making more acquisitions like this next year.”
NI Capital Holding, a subsidiary of the National Investment Bank (NIB), signed an agreement with Lebanon’s Bank Audi to acquire the online brokerage firm Arabeya Online (the first brokerage firm to receive an online trading license in Egypt in 2006) after concluding its due diligence on the Company, Planning Minister and National Investment Bank Chairman H.E. Dr. Hala El Said announced in a statement.
The acquisition will allow NI Capital to expand its non-banking financial services offering, including brokerage services for individuals and institutions, Dr. El-Said commented. “The transaction is a new step supporting NI Capital’s role in developing money markets in Egypt by offering comprehensive services to our clients,” said the minister.
Dr. El-Said added that: “NI Capital” has played an important role in supporting the economic reform program since its inception, and that the deal to acquire “Arabeya Online” will play a major role in the company’s efforts towards attracting investments to the Egyptian Stock market, with its experienced resources enabling it to play such a role successfully.”
Mahmoud Montasser, CEO of the National Investment Bank and Chairman of the Board of Directors of NI Capital, commented on the deal, saying: “We are happy to sign the agreement to acquire Arabeya Online, the leading company in the field of retail brokerage, which will enhance NI Capital’s contributions to financial inclusion, and add a new service to its corporate clients.”
From his side, Mohamed Metwally, CEO and Managing Director of NI Capital said: “Signing the deal to acquire Arabeya Online comes after a year-long due diligence and negotiations. The team at NI Capital is always working to expand our scope of services to both our corporate and individual clients, and to continue promoting investments in the Egyptian capital markets.”
NI Capital appointed Shahid Law Firm as its legal counsel on the transaction, Mazars Mostafa Shawki for financial and tax due diligence, and Ernst & Young for IT due diligence. Bank Audi appointed Broadgate Advisers as financial advisor, and Zulficar & Partners as legal advisor to the deal.
2019
Broadgate Advisers participated this month at the Bonds, Loans & Sukuk Turkey conference. James Bejjani, Director at Broadgate Advisers’ Multi Family Office, discussed Turkey’s capital markets’ development and the benefits of alternative funding in today’s markets. Alternative funding plays a crucial role in securing cheaper funding for issuers and provides investors the opportunity to optimize risk reward parameters in fixed income exposures.
Beirut, Lebanon – September 09, 2019 – Spinneys Levant Limited, the owner of the Spinneys brand in Lebanon and in Syria, announced the sale of a significant minority stake to a GCC-based investor, for an undisclosed consideration.
Since its entry into the Lebanese market in 1948, Spinneys established itself as a pioneer in the mass grocery retail sector in the country, being the first to introduce the concept of hypermarket. The company operates the largest supermarket chain in Lebanon with one of the most recognized brands, generating annual revenues of USD 300 million through a network of over 20 stores across the Lebanese territory, with various formats including hypermarkets, supermarkets, discount stores and convenience stores.
Broadgate Advisers (No.23 on the CMA’s Financial Intermediaries List) acted as the financial advisor to the seller in connection with this transaction.
We are pleased to announce that Broadgate Advisers has been awarded, for the second year in a row, the Best Investment Bank in Lebanon at the Euromoney Awards for Excellence 2019.
Bankers from across the Middle East gathered to attend the Euromoney Middle East Awards for Excellence dinner at Grosvenor House Hotel in Dubai on Wednesday, June 26th. This year’s awards demonstrated the growing importance of leading local banks in the region. Winners in other investment banking categories include Goldman Sachs, HSBC, EFG, and winners in commercial banking categories including Bank Audi, Arab Bank, among others.
Broadgate Advisers was indeed recognized for its notable M&A deal track record but also for reinforcing its position as a full-fledged investment boutique with an established Multi-Family Office service offering, a new Infrastructure Advisory practice as well as a reputable Venture Capital business.
Rami Jisr, Managing Partner at Broadgate said on the occasion: “We are truly honored and humbled to be nominated the Best Investment Bank in Lebanon by Euromoney for the second year in a row. This award comes on the back of our drive to pursue excellence in every aspect of our business and our determination to remain faithful to our strategy in keeping our clients’ interest first. I thank the team for their hard work and above all our clients for entrusting us with their business.”
Habib Aoun, Partner and Head of Investment Banking at Broadgate commented: “The current challenging economic environment creates attractive opportunities for companies to consolidate their market position through M&A and unlock significant value upside from synergies. Broadgate’s team is proud to have successfully advised clients on a number of such transactions over the past year, further cementing its position as one of the most active advisory houses and one of the few regional franchises to appear on the M&A league tables in the Middle East.”
The Chalhoub Group and Pearl Brands SAL have agreed to merge Chalhoub Group’s two retail operations in Lebanon, Luxury Development Company SAL (“LDC”) and Beauty Retail Company SAL (“BRC”) with Pearl Brands SAL. The combined entity, which will continue under the banner of Pearl Brands, will emerge as a major retail player in the Lebanese market with operations spanning 35 points of sale, and holding a diversified portfolio of leading international brands in fashion, jewelry, gifts, and beauty products.
On the occasion, Mr. Patrick Chalhoub, CEO of Chalhoub Group, commented: “We are happy to embark on this new partnership with Pearl Brands, which marks a new and reinvigorated presence for our Group in Lebanon through a partner that shares the same vision and business ethos, demonstrating our strong commitment to the Lebanese market.”
Ghassan El Jisr, General Manager of Pearl Brands, added: “This partnership is a continuation of a long cooperation with Chalhoub Group where I have personally spent most of my career and learned the business. What brings us together is mainly the values we share. We have further aligned our interests, to optimize our operations and tackle the challenges of the Lebanese market. With the ensuing increase in efficiency and scale, the new operations are well positioned to capitalize on any recovery in the market in pursuit of our ambitious plans.”
Pearl Brands will continue under the same leadership, with previous LDC and BRC personnel joining to take key positions. The company aims to grow and solidify its presence in the Lebanese market, representing major international brands and bringing the latest trends in fashion, beauty, gifts, and jewelry to Lebanese consumers.
Broadgate Advisers has acted as exclusive Financial Advisor to Pearl Brands SAL on this merger.
Beirut, Lebanon – February 8, 2019 – Saradar Capital Holding acquired a 51% stake in the Lebanese insurance and reinsurance company Assurex SAL (“Assurex”) from a group of minority shareholders, for an undisclosed consideration. Fattal Group remains a shareholder in the company, with a 49% stake.
Assurex, which operates mainly in the health, motor, and property insurance segments, among others, generated Gross Earned Premium and Net Profit After Tax of USD 35 million and USD 2.2 million, respectively, in 2017.
Founded in Beirut in 1948, Saradar Capital Holding is a conglomerate holding made up of i) Saradar Finance House, its primary business unit focused on financial services; ii) a real estate development and management arm; and iii) a logistics & distribution activities unit that also covers wider ventures across different sectors.
Broadgate Advisers (No. 23 on the CMA’s Financial Intermediaries list) acted as financial advisor to the lead seller on this transaction.
2018
We are pleased to announce that Broadgate Advisers has been awarded the Best Investment Bank in Lebanon at the Euromoney Awards for Excellence 2018.
Bankers from across the Middle East gathered to attend the Euromoney Middle East Awards for Excellence dinner at Grosvenor House Hotel in Dubai on Tuesday, May 8th. The awards recognized banks that stood out during a period of changing economic conditions, while activity in the capital markets remained strong. Winners in other investment banking categories include Citi, HSBC, Moelis & Co., and winners in commercial banking categories including Standard Chartered, Emirates NBD, and Blom Bank, among others.
Broadgate Advisers was indeed recognized for its notable M&A deal track record but also for reinforcing its position as a full-fledged investment boutique with an established Multi-Family Office service offering as well as a reputable Venture Capital business.
Rami Jisr, Managing Partner at Broadgate, said on the occasion: “We are extremely proud, yet again this year to win a prestigious award. We are truly honored. Our determination at Broadgate to provide our clients with world-class services is our first priority. I thank the team for their hard work and above all our clients for entrusting us with their most strategic affairs.”
We are pleased to announce that Broadgate Advisers has been awarded the Middle East’s Financial Services M&A Financial Adviser of the Year 2018 by Mergermarket.
The third annual Middle East M&A Awards recognized the top M&A financial and legal firms in a range of sectors including Energy, Mining & Utilities, Financial Services, Consumer, Pharma, Medical & Biotech, Telecoms, Media & Technology, and Industrials & Chemicals. Winners in other financial advisory categories include Akbank, Rothschild, BNP Paribas, KPMG, and Ernst & Young.
Rami Jisr, Managing Partner at Broadgate, said on the occasion: “We are very proud to be putting a Lebanon-based independent player at the top of the regional investment banking scene. This achievement wouldn’t have been possible without the excellent performance of our M&A advisory team, and above all without the trust of our Clients.”
2017
KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has acquired a 100% stake in homegrown lighting design, consultancy, and manufacturer, Davex (Malaysia) Sdn Bhd (Davex) for RM255mil, its largest investment in the manufacturing sector thus far.
Davex manufactures its own product under the brand name Davis Lighting and is primarily involved in the luminaire segment of the lighting market. The Penang-based manufacturer, founded in 1983, provides end-to-end lighting solutions to commercial, industrial, and residential clients and has a strong presence in Singapore and Australia, in addition to the domestic market.
“Ekuinas is pleased to enter the luminaires segment with Davex, a strong, homegrown regional market leader that has illuminated notable projects across the region, including our very own Petronas Twin Towers. The investment marks our entry into the manufacturing sector, which is timely as demand for luminaires, especially energy-efficient models, is rapidly increasing,” chairman Raja Tan Sri Arshad Tun Uda said in a statement.
The government-linked private equity fund management company said the region’s economic growth track would spur demand from property and infrastructure developers, combined with the Malaysian luminaire market which was expected to grow to US$882mil by 2020. Additionally, innovation in energy efficiency will push developers to adopt energy-efficient lighting solutions for regional major developments, which are projected to drive demand for light fittings.
Ekuinas said Davex was well-placed to capitalise on the increasing demand for energy-efficient lighting solutions as the industry experienced a shift from conventional to energy-efficient LED lighting. Ekuinas CEO, Syed Yasir Arafat Syed Abd Kadir said: “Ekuinas will leverage Davex’s strengths towards achieving its value creation plan that we have put in place to expand its top line growth whilst increasing its presence in Malaysia and the region, as well as streamlining systems and process integration with the aim of improving brand equity.”
“We will work closely with Davex’s management team to establish and accelerate local and regional growth to replicate the company’s success in Singapore and Australia, and look to expand its facility in Penang. We are confident that as the company grows, there will also be increased employment opportunities for all Malaysians,” he added.
Meanwhile, Davex group managing director Yap Chung San said the acquisition by Ekuinas was a defining milestone for the company. “We look forward to working with Ekuinas to take Davex to the next phase. With their expertise and track record of growing companies in Malaysia, we are confident Davex is in good hands.”
Ekuinas has made 54 direct and outsourced investments, with a total committed capital of over RM3bil since 2009. The company recorded a strong performance last year, closing 2016 on a positive note. The Ekuinas Direct (Tranche I) Fund recorded a Gross Portfolio Return of RM466.4mil, at a gross annualised Internal Rate of Return (IRR) of 13.1% and a net annualised IRR of 9.4%. The second fund, Ekuinas Direct (Tranche II) Fund posted a Gross Portfolio Return of RM331.6mil at a gross annualised IRR of 18.1% and a net annualised IRR of 12.7%.
Beirut, Lebanon – July 25, 2017 – Alanwa Holding Company, which represents the interests of the Saudi family Al Ibrahim, has successfully exited the family’s investment in IBL Bank SAL. The 5.5% stake, which was valued at around USD 26 million, was acquired by a Lebanese private investor.
Alanwa is a large Riyadh-based investment conglomerate with asset holdings in diversified sectors including real estate, hospitality, financial institutions, food & beverage, information technology and industrials. The group was advised on this deal by investment boutique Broadgate Advisers (No. 23 on the CMA’s Financial Intermediaries list).
IBL Bank is a Lebanese bank engaged in commercial and retail banking activities, with around 400 employees located across 24 branches both in Lebanon and abroad. In 2016, the bank had total assets of USD 6.8 billion, generating net profits of USD 80 million for the year.
PARSIPPANY, N.J., USA – April 3, 2017 – Sun Chemical has formed a joint venture with Alliance Holding Company LTD, which is the parent company of Ink Products Company, Ltd., a leading manufacturer of printing inks in the Arabian Peninsula.
The joint venture, which will operate under the name Sun Chemical Saudi Arabia LTD, combines two of the leading ink suppliers to the packaging and publication market in the region.
“This partnership reinforces Sun Chemical’s commitment to the growing package printing markets across the Middle East,” said Rudi Lenz, President and CEO of Sun Chemical. “The Ink Products Company is a market leader of printing inks in the region and our intention is to work together to build on the organization’s success by continuing to provide customers with high quality products, excellent service and innovative solutions.”
“We are excited by the opportunities that joining Sun Chemical’s global organization will bring to our customers in the region,” said Abdullah Al Hobayb, President of Alliance Holding Company LTD. “Being able to tap into Sun Chemical’s global resources will bring many great options to our customers and we’re pleased to join a company that shares our values of ‘working for you.’”
Sun Chemical will own the majority of the share in the new joint venture, and the transaction will be subject to closing conditions and regulatory approvals.
Bank Audi s.a.l. (Bank Audi) announces that it has entered into an agreement with M1 Financial Technologies (Holding) SAL (M1 Financial Technologies), a subsidiary of M1 Group, to sell its electronic payment and card services business for a price of U.S.$185 million, subject to adjustment, plus contingent deferred consideration of up to U.S.$35 million.
The transaction was structured as a purchase by M1 Financial Technologies of all of the shares of Areeba s.a.l. (Areeba), to which Bank Audi transferred its electronic payment and card services business (the carve-out), and with which it has entered into a service level agreement for the provision of these services. The completion of the sale is subject to the final approval of the Central Bank of Lebanon and consent to the change of control of Areeba from the relevant scheme providers, including MasterCard and Visa.
Following completion, Bank Audi will continue to perform all customer-facing functions. The carve-out and sale are expected to enhance the products and services offered to Bank Audi cardholders, who will benefit from Areeba’s focused approach in the rapidly developing card and electronic payment services sector.
Commenting on the transaction, member of Bank Audi’s Board and Country Manager for Lebanon, Marc Audi, said: “Bank Audi has a 40% market-leading share in the Lebanese card market. This transaction will enable Bank Audi to further improve its offerings to cardholders and streamline retail and card products and services.”
Maher Mikati, Deputy CEO of M1 Group, stated: “M1 Group’s extensive know-how and investments in technologically advanced sectors, and our solid financial profile, will enable Areeba to develop innovative products, thus increasing the competitiveness and range of products and services it offers.”
2016
B&Y Venture Partners (BYVP) will complete the closing of an investment fund this month and expects the capital raised to reach $50 million, said Ghaith Yafi, BYVP’s Managing Partner.
The fund, named B&Y Division One, has obtained the Central Bank’s final approval and will be launched in September. It will invest in the information and communication technology(ICT) sector locally and abroad.
B&Y Division One is the first fund launched and managed by BYVP, a joint venture created in 2015 between Y Venture Partners and Broadgate Advisers. Y Venture Partners is a company owned by the Yafi brothers, Ghaith and Abdallah. Broadgate Advisers was founded by Rami Jisr, the former General Manager of Audi Investment Bank.
The fund’s first capital injection was from BYVP’s founders and has already been invested in ten companies.
The fund is a hybrid investment tool because it is raising capital from banks and from private investors, Yafi said. The money raised from banks will be invested under the conditions of a circular set by the Central Bank that aims to encourage investments in local companies operating in the knowledge and innovative sectors.
“A hybrid fund gives us more flexibility in our investment decisions, because the money raised from private investors is not subject to the same constraints imposed by the circular,” Yafi said.
About 70 percent of the money will be invested locally. The remainder will be invested abroad. Local investment will be at the seed stage of companies that have global potential. Investment abroad will target companies at the growth stage.
The fund will acquire a minority interest in the companies in order to keep the entrepreneurs in the driver seat and to encourage them to raise more money to grow their business, Yafi said. The fund will still have a say in basic matters like budgeting and strategy, he said.
- Broadgate advises on Spinneys Levant on its the growth capital raise from Merit SALMarch 4, 2024
- Broadgate advises Asia Digital Engineering On USD100 Million Investment From OCP AsiaApril 27, 2023
- Broadgate advises on the sale of China-based TGES to SEHK-listed Global Logistics Group, Kerry LogisticsFebruary 23, 2023
- BY Venture Partners / Broadgate Advisers appoints Ziad Debbas as Head of MENA coverageOctober 5, 2022
- Broadgate advises on the sale of London-based Threads Styling to Chalhoub GroupSeptember 28, 2022
- Broadgate supports Swiss cloud kitchen start-up, Taktime.July 22, 2022
- Bernard Renaud joins Broadgate Advisers as director of Quantitative StrategiesJanuary 18, 2022
- Saudi Arabia’s ‘unprecedented growth’ set to cement position as M&A leader in 2022January 11, 2022
- Broadgate advises FinTech company on an equity capital raise from IFC and SBI VenturesDecember 17, 2021
- Establishment of Broadgate Advisers new office in Kuala Lumpur, Malaysia February 19, 2021
- Broadgate advises on the sale of Bank Audi Egypt to First Abu Dhabi Bank (FAB) January 21, 2021
- Broadgate advises on the sale of Bank Audi branch operations in Jordan and Iraq to Capital BankDecember 31, 2020
- Broadgate advises on the sale of SAFCO group to Spanish listed company Applus+December 22, 2020
- Broadgate advises on the sale of Arabeya Online to NI CapitalNovember 18, 2020
- Broadgate at Bonds, Loans and Sukuk Turkey ConferenceNovember 25, 2019
- Broadgate advises on the sale of a significant minority stake in Spinneys Levant to a GCC-based investorSeptember 27, 2019
- Broadgate awarded, for a second year in a row, Best Investment Bank in Lebanon at Euromoney Awards 2019July 1, 2019
- Broadgate advises on the merger of Pearl Brands with Chalhoub Group’s retail operations in LebanonMarch 1, 2019
- Broadgate advises on the sale of a majority stake in Assurex to Saradar CapitalFebruary 8, 2019
- Broadgate awarded Best Investment Bank in Lebanon at Euromoney Awards 2018May 11, 2018
- Broadgate awarded Middle East’s Financial Services M&A Financial Adviser of the Year at MergerMarket Middle EastMay 11, 2018
- Broadgate advises on the acquisition of Spinneys Levant by a group of Lebanese private investorsFebruary 28, 2018
- Broadgate advises on the sale of Davex (Malaysia) to EkuinasDecember 13, 2017
- Broadgate advises on the sale of IBL shares to a Lebanese private investorJuly 25, 2017
- Broadgate advises on the sale of Saudi Ink to Sun ChemicalApril 3, 2017
- Broadgate advises on the sale of Bank Audi’s EPCS business, Areeba, to M1 GroupMarch 31, 2017
- Yafi and Jisr to raise $50 million for ICT VC fundAugust 3, 2016
