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  5. The Abraaj Group Acquires Spinneys Holdings

M&A Deal Summary

The Abraaj Group Acquires Spinneys Holdings

On April 1, 2004, asset manager The Abraaj Group acquired retailer Spinneys Holdings

Acquisition Highlights
  • This is The Abraaj Group’s 1st transaction in the Retail sector.
  • This is The Abraaj Group’s 1st transaction in Egypt.

M&A Deal Summary
Date 2004-04-01
Target Spinneys Holdings
Sector Retail
Buyer(s) The Abraaj Group
Deal Type Buyout (LBO, MBO, MBI)

Target

Spinneys Holdings

Lebanon, Egypt
The origin of the Spinneys Brand dates back to 1924 when it was created in Egypt, to market food and consumer products in the Middle East through catering contracts, distribution agreements with leading FMCG brands, and retailing. Since 1999 the Brand has focused entirely on retailing in multiple formats - hypermarkets, supermarkets and convenience stores. The Brand is present in Lebanon and Egypt where operating entities are subsidiaries of the Spinneys Group, and in the UAE under franchise agreements.

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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 4 of 182
Sector: Retail M&A 1 of 16
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 144
Country: Egypt M&A 1 of 9
Year: 2004 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Oman National Investment Holding SAOG

Muscat, Oman

Oman National Investment Company (ONIC) was an investment holding company primarily engaged in the business of insurance and financial services through its subsidiaries and associates. ONIC's subsidiary companies included: Al-Ahlia Insurance, National Life Insurance Co., and the Oman Investment and Finance Co.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-10-04 Septech Holdings

Abu Dhabi, United Arab Emirates

Founded in 1997 and headquartered in Sharjah, UAE, Septech's main activity concentrated on packaged waste water systems. Today, Septech is active in water and waste water related systems, landscaping and environment services, pre-cast concrete products, and marinas. Its activities span consultation, design, manufacturing, installation, operation and maintenance.

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