Citadel Capital (CCAP.CA) is pleased to announce that it has increased its ownership stake in a number of platform companies by successfully executing a buyout of outstanding shares in an acquisition worth EGP 2.628 billion, the details and purpose of which were outlined in a previously released disclosure as per Article 16. Citadel Capital plans to bolster its position with another EGP 132 million within the coming few days.
Notably, shareholders and investors who have sold their stakes in platform companies to Citadel Capital are committed to contribute c. EGP 2.671 billion to Citadel Capital’s ongoing capital increase as per their contractual obligations. The firm plans to use part of the proceeds of the capital increase to finance payments related to transactions that will see the firm increase its stake in select platform companies.