The announcement was made today in Abu Dhabi by joint venture partners Dubai International Capital ("DIC"), the international investment arm of Dubai Holding, HSBC Bank Middle East Limited ("HSBC") and Oasis.
The Fund will invest in infrastructure opportunities across the Middle East and North Africa ("MENA") region. Each Sponsor is investing US$50 million in the Fund, with the remainder raised through subscription by private and institutional investors. The addition of Oasis International Leasing provides the Fund with a strong and established financial partner based in Abu Dhabi.
"Oasis International Leasing is committed to expanding its operations in the development of infrastructure projects across the region, "said HE Hussain Al Nowais, Chairman of Oasis. "The MENA Infrastructure Fund represents an excellent opportunity to participate in the diversification and growth of projects that will define the future progress of the economies throughout the region. We are pleased to be associated in this venture with partners DIC and HSBC, who represent the top echelon of financial expertise and business acumen."
"We welcome Oasis as a third Sponsor," commented Robert Swift, CEO of the Fund. "With strong and experienced sponsorship and a pipeline of investment opportunities, the Fund is well positioned to play an instrumental role in the financing and delivery of the key infrastructure developments underway across the region."
"Now that Oasis has joined as a Sponsor to the MENA Infrastructure Fund, we believe that the fund has grown even stronger in terms of market expertise and access to deal flow," added Sameer Al Ansari, CEO of Dubai International Capital.
"We are confident that a reputable Abu Dhabi company such as Oasis will confirm the position of the Fund as a leading infrastructure vehicle in the MENA region. Oasis will add further value to the Fund and to the investors, particularly because Abu Dhabi is one of the largest markets in the region for private sector investment in infrastructure projects".
"We are delighted to welcome Oasis International Leasing as a sponsor and partner in the MENA Infrastructure Fund and believe that the combination of Dubai International Capital and Oasis, which is based in Abu Dhabi, gives the Fund an unrivalled base of sponsors," commented Niall Booker, Deputy Chairman and CEO of HSBC Bank Middle East Limited. "We are looking forward to working with both of them in this exciting venture."
The MENA Infrastructure Fund was launched in March 2006. It has a broad mandate to invest in infrastructure development such as utilities, energy, transportation and public private partnerships. The Fund will invest in both project companies and other entities wishing to expand their infrastructure operations in the region.
Oasis, DIC and HSBC bring together their extensive international and regional experience, financial strength and sector knowledge in the creation of the MENA Infrastructure Fund.
Oasis has pioneered the concept of lease financing over its nine years of successful operations in the UAE. While DIC enjoys significant private equity skills, resources and relationships in the Middle East and North Africa, HSBC has the most extensive banking network and financial services business of any international bank operating in the region and is the global leader in infrastructure advisory and financing.
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MENA Infrastructure Fund expands ownership base
- United Arab Emirates: Wednesday, September 27 - 2006 at 15:47
- PRESS RELEASE
The recently-established MENA Infrastructure Fund (the "Fund") has been strengthened through the introduction of Oasis International Leasing ("Oasis") of Abu Dhabi as a Sponsor of the US$500 million fund.
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About Oasis International Leasing:Formed in 1997, Oasis International Leasing PJSC is a successful company engaged in the big ticket leasing sector of the aviation, shipping and infrastructure industries. Oasis International Leasing is listed on the Abu Dhabi Securities Market (ADSM).
• The first company in the GCC region to initiate leasing as a financial strategy for the acquisition of major capital assets
• Incorporated in Abu Dhabi in 1997 to identify, structure, manage and invest in high value leasing transactions
• Originally created as part of the UAE government's Offset Department, Oasis is now a public joint stock company listed on the Abu Dhabi Securities Market
• The Mubadala Development Company, BAE Systems and the Abu Dhabi Investment Company are major shareholders
• The Board of Directors provides the company with strong and dynamic leadership and is committed to furthering the company's growth and strategic development
• Capability to structure complex and tailored financial solutions for multi-billion dirham deals as per Project Blue and Etihad Airways dealing valued in excess of $1.5 billion
• Oasis is one of the fastest growing ADSM companies and is embarking on an aggressive expansion phase.
About Dubai International Capital:
Established in 2004, Dubai International Capital (DIC) is a Dubai-based, international investment company that primarily focuses on private equity. It is a wholly owned subsidiary of Dubai Holding. DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments and relationships.
DIC's expanding portfolio includes:
• US$ 1.2 billion acquisition of Travelodge (UK), Britain's fastest growing hotel company.
• US$ 1.2 billion acquisition of Doncasters Group (UK), an industrial manufacturing firm that produces precision engineering components across various industrial sectors.
• US$ 1.5 billion acquisition of The Tussauds Group (UK), the largest operator of visitor attractions in Europe.
• US$ 1 billion investment in DaimlerChrysler, making it the company's third largest shareholder.
• US$ 300 million in commitments to private equity funds, across the Middle East, Asia, Europe and North America.
• US$ 300 million investment company Jordan Dubai Capital (JD Capital), targeting investment opportunities in Jordan.
• US$ 150 million investments by Ishraq Holding, bringing the world's leading budget hospitality brand "Express by Holiday Inn" to the GCC. For more information please visit www.dubaiic.com
About HSBC:
HSBC is one of the largest banking and financial services organizations in the world. HSBC's international network comprises some 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa and with assets of US$1,738 billion at 30 June 2006
With listings on the London, Hong Kong, New York, Paris and Bermuda stock exchanges, shares in HSBC Holdings plc are held by nearly 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts.
In the Middle East, the HSBC Group is represented by HSBC Bank Middle East Limited. A principal member of the HSBC Group since 1959, the Bank has 33 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank (SABB) and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a representative office in Tehran, Iran.
HSBC's Corporate, Investment Banking and Markets division (CIBM) offers a full range of wholesale advisory, debt finance, risk management, treasury and capital markets, investment, custody and commercial banking services to large companies, institutions and governments in the Middle East. As part of one of the largest businesses of its kind in the world and with the benefit of the bank's extensive regional coverage, CIBM fosters long term relationships based on the Group's unmatched international knowledge and local expertise.
In 2006, HSBC won Best Bank in the GCC Project-Related and Asset Backed Finance Market and Best Financial Institution in Arranging Loans and Regional Bonds by Middle East Economic Digest (MEED); Best Bank for Cash Management in the Middle East and Best for Payments and Collections in the Middle East awards from Global Finance magazine, Best Foreign Bank in the Middle East and Best Private Bank by Banker Middle East magazine; Best Islamic Finance House, Best Islamic Finance Deal of the Year, and Best General Takaful Provider by Euromoney Islamic Finance Awards. For more information, please visit www.hsbc.com
Media enquiries to:
Robert Pearce
Account Director Oasis Leasing
Asda'a Public Relations
Tel +971 (2) 633-4133
Rami Kilajian
Dubai International Capital
Tel: +971 (4) 362-1875
Kaltham Al Koheji
Regional Manager Corporate Affairs
HSBC Bank Middle East Limited
Tel: +971 (4) 390-6630
Posted by Janeta Novakovic, Assistant News EditorWednesday, September 27 - 2006 at 15:47 UAE local time (GMT+4)
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This article was updated on Tue May 01 2007.
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