2004Feb
Business Projects Company
In January 2004, MENAVEST extended a US$3 million loan to Business Projects Company, a holding company with investments in Lebanon, Egypt and other Middle East countries, for 3 years. The loan carries an interest rate of 13%.
Not Available
2000Aug
Wadi Holdings
Wadi Holdings is the second largest poultry operation in Egypt. The company mitigated the currency depreciation through exports to other Middle East countries and the GCC. Having invested around US$5 million for a 4.4% stake, MENAVEST has received dividends of 5% per annum from the date of investment (September 2000).
Not available
2000Dec
C2 Limited
MENAVEST extended a one-year US$5 million mezzanine to C2 Limited with a put option for 1% of the company. MENAVEST exited in June 2004, realizing an annualized IRR of 31.0%. C2 Limited is the holding company that owns Spinneys supermarkets in Lebanon.
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1999Jul
ROTOPACK
MENAVEST invested around US$2.4 million in Egypt-based printer Rotopack and induced it to merge with packaging material manufacturer Porta. The combined entity is now the market leader with around 55% market share.
Not Available
1999Jun
Orascom Telecom
Orascom Telecom was established in 1998. The company is considered among the largest and most diversified network operators in the Middle East, Africa and Pakistan. MENAVEST participated with US$6.55 million in 1999 during the company’s pre-IPO, and exited the investment in March 2004 realizing an IRR of 11.4%.
Not Available
1999Mar
Orascom Construction
Orascom Construction is a leading cement producer and construction contractor active in emerging markets. On March 1999, MENAVEST participated with an amount of US$1.5 million in the IPO of Orascom Construction Industries. MENAVEST exited on December 1999 with investment proceeds of US$2.09 million realizing an IRR of 78.7%.
Not Available
1998Dec
APIC
MENAVEST took a US$2 million participation in the capital increase of the Arab Palestinian Investment Holding (APIC), a company holding investments in the Palestinian Territories and Jordan. It distributes world leading brands such as Eli Lily, Hyundai, Philip Morris and others.
Not Available