Qalaa Holdings Chairman on Lead After 4% Investment Boost

“I am exceptionally optimistic about the prospects for growth not just in Egypt but also in Africa, viagra ” said Heikal. “There is no better means of underscoring this than by a transaction of this nature. Ensuring that our team has the means to build personal ownership in the firm is a key tool that aligns the interests of Qalaa Holdings staff with those of our shareholders.”

According to Heikal, remedy the recent reform decisions announced by the Egyptian government has left him with the conviction that Egypt is on the right track as current reforms in the country will enable them play a pivotal role in enhancing the quality of lives of its people and the firm.
“We have a strong and deep management team in place and a large number of fantastic portfolio companies that operate in key sectors that will be beneficial to Egypt as the country embarks on a new path towards reform.” Heikal noted.

Citadel Capital Partners is the vehicle through which senior management of Qalaa Holdings hold their equity in the firm. The recently concluded capital increase subscribed to by CCP partners at a price of EGP 5 per share will bring Heikal’s ownership of Citadel Capital Partners to 58.84%.
However, his co founder, Hisham El-Khazindar and Karim Sadek Managing Director of Qalaa Holdings maintained their share of Citadel Capital Partners intact at 19.32% and 13.11% respectively. It is stated that the transaction did not result in any increase in CCP ownership in Qalaa Holdings, which currently stands at 25.6%.

Following the recent completion of a capital increase to EGP 8 billion, Qalaa Holdings continues to transform into an investment holding company that controls majority stakes in most of its core investments in the energy, cement, agrifoods, transportation & logistics and mining sectors.

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