NBK Capital Equity Partners Fund agrees to sell 100% of Yudum Foods to Afia International Company, a Savola Group subsidiary

NBK Capital Equity Partners Fund, managed by NBK Capital, agrees to sell 100% of Yudum Foods of Turkey to Afia International Company for a consideration of $70.7m.

Kuwait: Monday, November 26 - 2007 at 12:47
PRESS RELEASE

Amjad Ahmad, Chief Executive - Investment and Merchant Banking.

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The transaction is expected to close in the first quarter of 2008, subject to regulatory approvals.

'We are proud of the success of this investment and we believe it illustrates NBK Capital's commitment to creating value', said Amjad Ahmad, Chief Executive - Investment and Merchant Banking.

Yudum Foods is the leading packaged edible oils company in Turkey. The Company is focused on the production and marketing of sunflower oil and maize oil under the widely recognized Yudum and Sirma brands, respectively.

NBK Capital, in partnership with the management team, made considerable progress in the Company in a relatively short time and substantially increased revenue and profits.

'We are delighted with the returns of our first investment. This transaction speaks to the team's ability to execute its strategy of creating value through active ownership and forming close partnerships with management' said Samir Assaad, Managing Director, Private Equity.

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» National Bank of Kuwait (NBK) company profile

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About NBK Capital
NBK Capital a leading investment and merchant bank in the Middle East region. NBK Capital employs 120 highly skilled finance professionals across the region in offices in Kuwait, Istanbul and Dubai. NBK Capital Equity Partners Fund, the first private equity fund managed by NBK Capital, invests in companies in the GCC, Turkey, Egypt and the Levant. Through an active ownership approach, provision of expansion capital and partnership with strong management, the Fund aims to build strong and enduring companies.

About Savola Group

The Savola Group is one of the leading industrial companies in Saudi Arabia. The Group's major holdings supply Saudi Arabia, the Middle East and North African countries with edible oils, sugar, fresh dairy products and restaurants serving fast foods. The Group owns what is considered the largest retail food chain in the Middle East - the Azizia Panda supermarkets.

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Tel: 2246925 -259 3600
Fax: 2465190

Posted by Lara Lynn Golden, News Editor
Monday, November 26 - 2007 at 12:47 UAE local time (GMT+4)

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