M&A Deal Summary

The Abraaj Group Acquires Deacons Kenya

On December 1, 2006, asset manager The Abraaj Group acquired retailer Deacons Kenya

Acquisition Highlights
  • This is The Abraaj Group’s 2nd transaction in the Retail sector.
  • This is The Abraaj Group’s 5th transaction in Kenya.

M&A Deal Summary
Date 2006-12-01
Target Deacons Kenya
Sector Retail
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Deacons Kenya

Kenya
Deacons is a leading Kenyan fashion retail chain, which currently has seven stores located in Nairobi’s most prestigious shopping centers. The company’s principal business is to operate retail establishments, including franchise and department stores selling ladies’, men’s and children’s clothing, footwear, accessories, toiletries, gifts, home furnishings, cosmetics, sports equipment and other goods.

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Buyer(S) 1

Buyer

The Abraaj Group

Dubai, United Arab Emirates
Category Asset Manager
Founded 2002
PE ASSETS 7.4B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Abraaj Capital Limited is a private equity firm that seeks investments in the Middle East, North Africa, and South Asia. Abraaj looks for stable, mature businesses and uses a 'buy and build' strategy for growth. Areas of interest include aerospace, healthcare, transportation, financial services, leisure, education, energy, and manufacturing. In addition to its buyout and growth capital investments, Abraaj also invests in real estate and infrastructure. Abraaj Capital was formed in 2002 and is based in Dubai.

DEAL STATS #
Overall 18 of 182
Sector (Retail) 2 of 16
Type (Buyout (LBO, MBO, MBI)) 15 of 144
Country (Kenya) 5 of 14
Year (2006) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-01 Bank of Africa Kenya

Nairobi, Kenya

The commercial Bank of Africa Kenya (BOAK) is part of a larger West African Banking Group that is seeking diversification in East Africa. BOAK is based in Kenya, and has a presence in Uganda, Tanzania, Burundi and the Democratic Republic of Congo. The West African Banking Group entered the East African banking market in July 2004 through the acquisition of a subsidiary of Credit Agricole Indosuez, creating BOAK. Bank of Africa Kenya, alongside The Abraaj Group and other investors, then acquired two subsidiaries of Belgolaise Bank (a subsidiary of Fortis Bank) in Uganda and Tanzania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Vejthani Hospital

Klongchan Bang Kapi, Thailand

Vejthani Hospital provides health care facilities.

Buy -
Mergr

Product

Company

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