In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia2 hours ago
Swicorp will be the fund manager, while Savola will be an anchor investor. The fund intends to focus on the Middle East and North Africa (MENA) region in order to reap the benefits of the region's currently booming economies and capitalise on its emerging and promising private equity industry.
The fund will seek to invest in a diversified portfolio of companies with significant growth prospects and operating in pre-selected growth sectors such as consumer goods, retail, communications, financial services, and infrastructure.
“The Launch of Intaj Capital is an important step for Swicorp and it reflects our commitment to the development and growth of private equity in MENA. We are delighted to be engaging in this new venture with the Savola Group, one of our closest clients in the region, with which we have a longstanding relationship and a quality track record,” said Kamal Lazaar, President and Managing Director of Swicorp.
The Fund will leverage Swicorp and Savola's combined market knowledge and know-how to create value and achieve superior returns by enhancing the operational and financial performance of portfolio companies as well as by performing timely and well executed exits. Commenting on the Launch of the Fund, Savola's CEO, Dr Abderaouf Mannaa said that Intaj Capital represented a unique opportunity for Savola to be involved in the growing private equity sector and a vehicle for exploring new boundaries for the development of Savola.
Swicorp is a Swiss-headquartered investment firm with a unique track record of corporate finance transactions in MENA, counting among others, the first LBO in Saudi Arabia as well as the first Corporate Venture Fund in MENA. Intaj Capital is Swicorp's second private equity fund in the region following 'MENA Water Ventures', which was launched in partnership with Groupe Danone late 2003.
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia2 hours ago
More than 2,000 pro-Palestinian protesters arrested in the past two weeks across the US
americas3 hours ago
Fireballs and Smash tied for the lead in the team event at the $25 million 54 hole tournament
sports3 hours ago
The hosts strengthened their chances of securing a slot in the semifinals with a 70-run victory in Abu Dhabi
sports4 hours ago
The group has a presence in five countries and eyes further geographic expansion, especially in India
markets4 hours ago
The severity of the situation gradually eased from Thursday evening, when it receded in the north and east of the country
weather4 hours ago
Cyclone Hidaya is predicted to cause torrential rain, strong winds and powerful and dangerous waves in the flood-ravaged country
africa5 hours ago
Dror Or's wife Yonat was killed in the October 7 attack and two of their three children were abducted and then freed in November
mena5 hours ago