AREF Investment Group

www.arefgroup.com

AREF Investment Group is a Kuwaiti shareholding company listed on the Kuwait Stock Exchange. Established in 1975 with a share capital of approximately USD153 million, AREF is considered to be amongst the leading investment institutions in the region where it practices its activities as an investment bank.

Along with 34 of its’ affiliates and subsidiary companies, AREF forms a conglomerate of Investment and financial Corporations operating in synergy utilizing its expertise to form a “power team” capable of competing and executing large projects, exploring and developing new investment opportunities in new markets and sectors such as educational and medical services, IT, Real estate development, Logistic services, Aviation, sea and river transportation, petroleum services and livestock.

Among the Affiliates and Subsidiaries of AREF Investment Group:

• Education Holding Group (EDU) established in 1982 as AREF’s arm in the educational services sector. Consisting of 24 companies, EDU is the first educational company listed on the KSE with a capital of USD 76 million
• Capital Bank of Sudan began its operation as AREF’s financing arm in 2006 with a capital of USD 120 million
• Munshaat Real Estate Projects Company, AREF’s arm in the real estate investment & development sector was listed on the KSE with a share capital of USD 100 million
• Mowasat Holding Company is AREF’s arm in the health services sector and was listed on the in 2006 with a capital of USD 37 million
• Athman Investment Company was established in 2006 as an investment arm of AREF with a capital of USD 57 million.
• Sokouk Exchange Centre Bank "TADAWUL"- is the 1st Islamic Bank incorporated in Bahrain in 2007 with a capital of USD 500 million.
• AREF Energy Holding Company was established with a capital of USD 247.5 million and is AREF’s arm in the energy services sector
• Sokouk Holding Company is AREF’s real estate and investment arm established 2003 with a capital of USD 340 million and is listed on the KSE
• Technology World Company is AREF’s I.T arm which was established in 2002 with a capital of USD 17.5 million.

Citadel Capital

www.citadelcapital.com

Local Insight • Regional Footprint • World-Class Expertise

Citadel Capital is a leading regional private equity firm specializing in large buyouts and turnarounds. The firm has capitalized on key opportunities in a number of sectors including oil and gas, cement, mining, transportation and, most recently, a strategic foray into the foods sector.

With US$ 7 billion in investments currently under management, Citadel is committed to creating value for its shareholders. Formed in 2004, the firm is now a thriving Cairo-based regional practice with a proven track record of value creation and a rapidly expanding geographic footprint.

Citadel Capital’s primary focus is on buyouts, turnarounds, greenfields and consolidation plays in the MENA region. The firm carefully selects its investments for their potential to create value and spur market growth.

The firm has completed a number of successful transactions including the EFC (Egyptian Fertilizers Company) and ASEC (Arab Swiss Engineering Company) deals. Citadel prefers investments with equity components of at least US$ 100 million and clear exit strategies. Citadel co-invests with its clients in every deal, thus sharing both risks and returns.