Investment Summary

The Abraaj Group Invests In Oman National Investment Holding SAOG

On January 1, 2003, asset manager The Abraaj Group invested in insurance company Oman National Investment Holding SAOG

Investment Highlights
  • This is The Abraaj Group’s 1st transaction in the Insurance sector.
  • This is The Abraaj Group’s 1st transaction in Oman.

Investment Summary

Date 2003-01-01
Target Oman National Investment Holding SAOG
Sector Insurance
Investor(s) The Abraaj Group
Deal Type PIPE

Target

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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Investor(S) 1

Investor

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 3 of 182
Sector: Insurance M&A 1 of 3
Type: PIPE M&A Deals 1 of 3
Country: Oman M&A 1 of 1
Year: 2003 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-01-01 Amwal Q.S.C

Doha, Qatar

Amwal was the first investment company to be licensed by the Central Bank of Qatar operating in three lines of business; investment banking, asset management and financial planning.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 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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