Middle East & North Africa

Buyout code proposals given teeth

Sir David Walker’s report on transparency and disclosure has encouraged UK industry body, the BVCA, to name, shame and expel non-compliers with his proposed code.

First Reserve pays $420m for South African mining company

First Reserve hopes to take advantage of soaring nuclear power industry demand for uranium with an acquisition in South Africa.

Sainsbury’s family demands adequate pensions settlement(2)

Qatari investment company Three Delta may be thwarted in its attempts to buy UK supermarket Sainsbury’s by the founding Sainsbury family. The family has reiterated in a statement that its acceptance of any bid is conditional on the Qatari firm providing an adequate pensions settlement.

Schwarzman defends sovereign funds

Speaking on a World Economic Forum panel dedicated to sovereign funds, the Blackstone chairman and chief executive praised the funds and likened them to US state pensions as institutional investors.

DIC makes first direct MENA investment(4)

Dubai International Capital has completed its first direct private equity investment in the region through the acquisition of luxury company Rivoli Group.

Hopes of LBO revival as Cinven makes Emap bid(4)

European buyout firm Cinven’s £2 billion bid for two divisions of media group Emap is the second largest new offer since debt market turmoil decimated the market for leveraged loans.

Blackstone real estate fundraise passes $10bn

The private equity real estate division of Blackstone has yet to reach a final close, but its commitments to date mean the New York alternatives giant now controls the largest funds in both private equity and private equity real estate.

Carlyle hires global regulatory affairs head(4)

Carlyle has hired international trade and policy expert David Marchick to provide in-house government affairs, regulatory and strategic advice to its fund managers.

ECP, Truffle pay $53m for Moroccan mines

Emerging Capital Partners, in partnership with Truffle Capital, has acquired a third African mining company with its $53 million purchase of Morocco’s Compagnie Miniere de Touissit.

Veritas exits stake in defence contractor(2)

Veritas Capital has sold defence contractor Athena Innovative Solutions to CACI International for an undisclosed amount.