29 April 2014       Download

Citadel Capital (CCAP.CA on the Egyptian Exchange), the leading investment company in Africa and the Middle East, confirmed today that it will potentially establish a new subsidiary “Citadel Energy” to consolidate its core downstream energy investments and fuel further growth and development.\n\nCitadel Capital is in the midst of serious discussions with Development Finance Institutions to help finance the new entity as part of ongoing efforts to help resolve Egypt’s energy problems.\n\nAny such transaction would only be undertaken if deemed to be value-creating for shareholders of both Citadel Capital and of the subsidiaries in question under the firm's strategy of transforming into an investment holding company controlling majority stakes in five core industries: energy, transportation, agrifoods, mining and cement.\n\nCitadel Capital will promptly inform the market in the event that any such decision should be made.