Being an investment holding company, GrowthGate will not be constrained by a time limit to divest from its portfolio companies, giving each company the appropriate time to fully develop in value. Additionally, GrowthGate's shareholders will have the option of listing the shares on a regulated stock exchange in the near to mid term future.
GrowthGate will be managed by a dedicated management entity namely, the 'KeyStone Equity Partners' which comprises a team of seasoned corporate financiers, bankers, and professionals who collectively have over 75 years of experience in transactional banking and direct investments in the Middle East region, and a track record of completed regional transactions in excess of $4 billion.
The offering is expected to commence some time in May 2006 and is anticipated to close prior to the end of June 2006. Norton Rose is acting as international counsel on the offering.
"This private placement will capitalize on the strength of the management team that has a first rate transactional track record in the region and the value enhancing strategy that looks to invest in local success stories, turning them into regional champions before realizing the investment value,"
said Al Hassan Goussous, Head of Investment Services at HSBC Bank Middle East Limited.
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Posted by Anne-Birte Stensgaard, Senior News Editor
