Egyptian-Saudi-Emirati alliance unveils $800M industrial merger in October
Updated 9/22/2024 4:31:00 AM
Arab Finance: A coalition of private companies from Egypt, Saudi Arabia, and the UAE has unveiled an $800 million merger in the industrial sector in October, Managing Partner and Head of Investment Banking at Zilla Capital Moustafa El-Shenety told Asharq channel in an interview.
El-Shenety anticipates the completion of additional merger and acquisition deals valued at $300 million over the next six months, noting that Zilla Capital is currently managing transactions worth nearly $3 billion.
Zilla Capital’s fund and portfolio management arm is likely to commence operations in Saudi Arabia by the end of this year, with an initial portfolio value of $300 million, he revealed, adding plans to double its business volume to $600 million within its first year of operation.
Moreover, he noted that the new company will operate in partnership with a financial institution in Saudi Arabia, targeting investments in Arab markets, Europe, and the US.
Zilla Capital, established in 2018, operates across various financial sectors, including non-banking finance, investment banking, and financial advisory.
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