Press Release
With the aim of deploying up to US$ 1 billion
Beltone and Kenana establish a new agriculture company to invest in Egypt and Sudan
Beltone Private Equity and Kenana Sugar Company have signed a partnership agreement to create a strong, resourceful company with the aim of deploying up to US$ 1 billion in large-scale agriculture projects across Egypt and Sudan
Mr. Hazem Barakat, CEO of Beltone Private Equity, said that Beltone would provide extensive investment management, corporate finance, as well as strategic capabilities.
On other the hand, Kenana will support the venture through its Superior technical know-how and operational expertise," said Mr. Mohamed El Mardi CEO of Kenana. He also added that Agriculture plays a vital role in developing countries and it is a major source of income for emerging economies.
About Kenana:
Kenana was established in 1975, is one of the world's largest integrated sugar companies located on the eastern bank of the White Nile. Kenana's farm covers 200,000 feddans of which 165,000 acres are of irrigated rich and alluvial soil and produces 400,000 tons of sugar per year.
About Private Equity:
Beltone Private Equity, a subsidiary of Beltone Partners, was established in early 2006 with a unique vision to combine the investment experience of the founders of Beltone Financial with the industrial experience of Mr. Hazem Barakat, an accomplished Egyptian industrialist with a wealth of experience in diverse industries.
As of end of October 2008, Beltone Private Equity had over E£ 1.5 billion in assets under management in a diverse range of investments. Beltone Private Equity has a team of qualified professionals, whose background ranges from industrial operations to financial services. Our investment philosophy is based on value creation for both investors and portfolio companies.