CIAM was established in 2002 to specialize in distressed asset management, in particular to manage and recover a portfolio of non-performing loans as part of CIFH's reorganization in 2002. As part of its efforts to explore new revenue streams leveraging on cash flows generated from the recovered assets, CIAM has also built up a team of seasoned investment professionals with experience in managing direct investment projects in Mainland China. Its current portfolio of direct investments includes real estate, high-tech, health, retail and other industrial projects.
'The unique mix of investors will enable CIAM to capitalize on their respective know-how in direct investments and broaden its access to the investors' networks in the Middle East, Japan and other parts of Asia. Meanwhile, the strategic investment in CIAM will also offer a unique opportunity for the overseas investors to benefit from the deep knowledge and expertise of CIAM in direct investments in China,' said Mr. Khalid Abdulla-Janahi, Chairman of Ithmaar Bank.
CIFH, which is listed on The Hong Kong Stock Exchange, is the financial flagship of the CITIC Group outside Mainland China. CITIC is a diversified conglomerate wholly owned by the State Council of China.
Ithmaar Bank B.S.C closes strategic shareholding acquisition in Hong Kong asset management company
Ithmaar Bank B.S.C announced that the Company has recently completed an agreement with CITIC International Financial Holdings Limited, (Hong Kong), and two other overseas investors, pursuant to which the three overseas investors will invest U.S $ 180 million in exchange for a combined 60% stake in CITIC International Assets Management Limited, of which Ithmaar Bank will own 20%.
- Bahrain: Wednesday, January 17 - 2007 at 09:40
- PRESS RELEASE
- ADD ARTICLE TO
-
Facebook
del.icio.us
Digg
Index : Company News : Ithmaar Bank
Browse related articles
Browse related articlesToday's most read articles:
Most read articles the past week:
Log in to request more information from Ithmaar BankNotes and media contacts
About Ithmaar Bank:Ithmaar Bank B.S.C. is a 22-year-old bank licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange [Stock quote: ITHMR]. Ithmaar Bank, with a paid- up capital of US$360 million, is a full service investment bank with operations spanning the Middle East and North Africa (MENA) region, as well as Asia and Europe. The Bank's business includes private equity, asset management, project financing, advisory business (capital market, mergers & acquisitions and project advisory) and equity underwriting.
Ithmaar Bank's flagship companies include Bahrain-based Shamil Bank of Bahrain B.S.C., a listed full service Islamic commercial bank; Solidarity Company B.S.C. (Closed), an Islamic insurance company based in Bahrain; First Leasing Bank B.S.C.(Closed), a wholesale lease finance company; Switzerland-based Faisal Private Bank (Switzerland) S.A. and Pakistan-based Faysal Bank Limited.
For press enquiries, please contact:
Luis Maronese
Director-Public Relations & Corporate Communication
Ithmaar Bank B.S.C.
Tel: + (973) 17 584 024
Fax: + (973) 17 584 017
Posted by Janeta Novakovic, Assistant News EditorWednesday, January 17 - 2007 at 09:40 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This Article was updated on Monday, April 30 - 2007
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
Web Feeds