Arqaam Capital Acts as Exclusive Financial Adviser to Magrabi Retail

Tuesday, May 21, 2013

Arqaam Capital (“Arqaam”), the specialist emerging markets investment bank, today announced that it acted as the exclusive financial adviser to Cairo-based Magrabi Retail (“Magrabi”) in the purchase of a controlling stake in the Turkish optical retailer, Şişli Optik Ticaret A.Ş.  This transaction marks Magrabi Retail’s first acquisition, outside the MENA region, and the start of a strategic initiative to expand into select emerging markets.  The additional Sisli stores will now see the network expand to a total of over 160 retail outlets, across ten countries.

Advised by Arqaam, Magrabi participated in a competitive bidding process and successfully progressed the Transaction to closing, having secured favorable terms.Arqaam provided M&A advisory services, as well as assisted in raising acquisition financing for the transaction.

Riad Meliti, Chief Executive Officer of Arqaam, stressed the role Arqaam played in the acquisition: “As an emerging markets investment bank, we specialize in facilitating capital flows into rapidly growing and dynamic markets, such as Turkey.  Our understanding of both the local market and the dynamics of emerging countries has allowed us to assist Magrabi Retail, in growing beyond the MENA region.”

Meanwhile, Amin El-Maghraby, Chief Executive Officer of Magrabi stressed the importance of Turkey for his network: “Having demonstrated a strong working model in existing geographies, Magrabi Retail is now targeting new markets in which to replicate its model.  Turkey has been eyed as a potential market given the strength of its macroeconomic fundamentals and the growing retail sector.  Arqaam provided us with the necessary, additional, support to successfully complete this milestone transaction.”

Transaction terms are not disclosed.