Amwal Al Ghad English - 2013-05-21 08:27:44
Arqaam Capital ("Arqaam"), the specialist emerging markets investment bank, today announced that it acted as the exclusive financial adviser to Cairo-based Magrabi Retail ("Magrabi") in the purchase of a controlling stake in the Turkish optical retailer, Şişli Optik Ticaret A.Ş. This transaction marks Magrabi Retail's first acquisition, outside the MENA region, and the start of a strategic initiative to expand into select emerging markets. The additional Sisli stores will now see the network expand to a total of over 160 retail outlets, across ten countries.
Advised by Arqaam, Magrabi participated in a competitive bidding process and successfully progressed the Transaction to closing, having secured favorable terms. Arqaam provided M&A advisory services, as well as assisted in raising acquisition financing for the transaction.
Riad Meliti, Chief Executive Officer of Arqaam, stressed the role Arqaam played in the acquisition: "As an emerging markets investment bank, we specialize in facilitating capital flows into rapidly growing and dynamic markets, such as Turkey. Our understanding of both the local market and the dynamics of emerging countries has allowed us to assist Magrabi Retail, in growing beyond the MENA region." More»