Arcapita appointed advisor to HSBC Saudi for $150 million logistics fund

The Saudi Arabia logistics sector is ranked the third-most attractive within emerging markets, according to the Agility Logistics Market Index. (Reuters)
Updated 29 January 2018
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Arcapita appointed advisor to HSBC Saudi for $150 million logistics fund

DUBAI: Shariah-compliant investor Arcapita has been appointed as an advisor to HSBC Saudi Arabia for a $150 million (SR562.5 million) investment fund that will target logistics and warehouse assets in Saudi Arabia and the United Arab Emirates.
Bahrain-based Arcapita will identify and assist in the financing and sale of assets, as well as provide services such as asset management, structuring and due diligence to HSBC’s fund, it said in a statement on Monday.
The Saudi Arabia and UAE logistics sectors are ranked the third and fifth most attractive within emerging markets, according to the Agility Logistics Market Index.
Saudi Arabia’s economic reform program, known as Vision 2030, is expected to increase government spending on air and seaport infrastructure, the statement said, as the kingdom tries to reduce its dependence on oil.
“With Saudi Vision 2030 and the resilience and prosperity of the Dubai logistics market, Saudi Arabia and the UAE remain key markets for Arcapita,” said Martin Tan, Arcapita’s Chief Investment Officer.


Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

Updated 35 min 57 sec ago
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Egypt's Banque du Caire eyeing sale of 20-30 pct stake for $300-400 mln

  • A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years

CAIRO: The head of Egypt's Banque du Caire said on Thursday the bank was aiming to raise $300-400 million by selling a 20-30 percent stake by the end of 2019.
Chairman and Chief Executive Tarek Fayed told reporters that the timing of the initial public offering depended on market conditions.
A deal to sell the state-owned bank was cancelled in 2008, and a planned IPO has been repeatedly postponed over the past three years.