14 May 2008 13:05 [Source: ICIS news]
DUBAI (ICIS news)--Dubai International Capital, the investment arm of Dubai Capital Group, has divested its 15% stake in Egyptian Fertilizers Co, the ?xml:namespace>
The company said that it gained Egyptian pounds (£E) 720m ($134m) from this transaction.
OCI said in February it merge the fertilizer operations of Abraaj with its own in a $1.59bn deal.
Dubai Capital Group said it has realised an internal rate of return of 105 per cent, receiving 5.75 times its original investment in less than three years.
"Through this exit, we have delivered further exceptional returns and value for our investors," said Dubai Capital Group CEO Mustafa Fareed Geninah.
Geninah has quit his seat on the EFC board after the divestment.($1 = £E5.36)
To discuss issues facing the chemical industry go to ICIS connect
To discuss issues facing the chemical industry go to ICIS connect?xml:namespace>
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|