ADDAX Investment Bank Announces 50% completion of Education Capital Private Placement

Date : 28 February 2007

JordInvest acquires 20% stake in Education Capital. Addax Investment Bank has announced the successful completion of 50% of the $100 million private placement of Education Capital BSC (C) (EdCap), its latest venture. A number of prominent GCC and Arab financial institutions have applied to buy ...

Addax Investment Bank expects the remaining shares in EdCap to be sold by the end of February, with the Bank retaining a 10% stake. The management of EdCap is currently involved in advanced negotiations to acquire seven schools in Egypt, Jordan, Qatar and the UAE.

Investing in the education sector is in line with the bank’s strategy to encourage diversification while achieving attractive returns for its clients. Addax’s range of investment products includes media production, education, tourism, hospitality and infrastructure.

"Addax Investment Bank launched Addax Education Holdings (AEH) in co-operation with a team of education and private equity professionals. Its overall aim is to invest in and manage education and education-related businesses across the GCC, Levant and North Africa,” said Yousef Al-Essa, Chief Executive Officer, Addax Investment Bank.

“The education landscape in the Middle East has witnessed significant growth in recent years as the demographics in most Arab states have shifted. The Middle East region has a young population which continues to grow; we need to develop high calibre schools now, so that we can reap the benefits of having a more skilled and educated workforce in the future,” added Al-Essa.