emeafinance News - January 2012
Sberbank’s Troika deal approved
Sberbank’s acquisition of investment bank Troika Dialog has closed, creating the largest universal bank in Russia.
Gulf Finance names vice chairman
Al-Binali to support Dubai lender’s expansion plans.
StanChart backs ETG
Agriculture commodities distributor secures US$74mn in expansion funds.
Crisis continues with sovereign downgrades
This week has seen continued uncertainty in Europe’s financial markets following the downgrade of several European governments’ credit ratings by Standard & Poor’s and ongoing worries about a looming default from Greece.
Standard & Poor’s decision to downgrade sovereigns including France, Austria, Italy, Spain and Portugal, and the subsequent downgrade of the EFSF, the eurozone bailout fund, highlighted concerns over politicians’ attempts to get their fiscal houses in order. “It’s difficult to quibble with S&P’s reasoning for its actions,” said Chris Scicluna, head of economic research at Daiwa Capital Markets.
Telekom Srbija secures new funds
Serbian telecoms company receives €470mn from 19 banks.
Troika Dialog hires Safonov
Russian bank names new head of fixed income, currencies and commodities.
Salans links with Turkish firm
Law firm strikes partnership agreement with Istanbul’s BASEAK.
Arab Banking Corp changes London management
Bahrain bank announces new CEO and deputies for European subsidiary.
Emirates Islamic Bank to issue US$500mn sukuk
Bank opens order book following investor meetings last week.
Saudi banks to increase capital
SABB and Saudi Hollandi Bank’s plans approved by regulator.
Arqaam to buy Egyptian broker
Investment bank extends MENA coverage with El Rashad Securities deal.
QIB funds taxi project financing
Qatari bank backs Al Million with Islamic funding package.
Al Babtain bids for Petitjean assets
Saudi Arabian engineering group aims to acquire French street lamp company.
Euro fund raises EUR3bn
EFSF sees strong demand for bond to boost Ireland and Portugal assistance.
Temasek hires UBS CFO
John Cryan joins Singaporean investment firm as European president.
Euro recovery could help MENA IPOs
A resolution to Europe’s debt crisis in 2012 will help MENA’s IPO market recover following a poor performance last year, Maria Pinelli, Ernst & Young’s global vice-chair of strategic growth markets, has said.
MENA’s IPO market raised US$843.9mn in 2011, a 69.3% decline on the US$2.8bn raised in the previous year due to the eurozone's problems hitting investor confidence.
Ecobank CEO to leave
Arnold Ekpe to step down this year after more than seven years in role.
Carlyle buys Turkish education stake
Asset manager takes 48% of private schools operator.
Renaissance buys Eastern European fund
Griffin acquisition adds German-speaking market to portfolio.
Eurozone recession to deepen - Goldmans
Pressures should lead to “a more concrete policy agreement”, say analysts.
BankMuscat receives debt funding from IFC
US$170mn package for Omani bank will back lending to businesses and home buyers.
EIB appoints new president
German minister Werner Hoyer replaces Philippe Maystadt after 12 years.
UniCredit confirms rights issue
Shares fall as Italian bank announces details of discounted €7.5bn deal.
Dewey & LeBoeuf's Jo'burg hires
Law firm picks up eight lawyers from Werksmans Attorneys.
Qatar Petroleum closes funding
US$10bn gas development marks 2011’s largest project financing.
Eurozone banks look to covered bonds
Institutions price and market issuances to begin 2012 borrowing.
Emirates Islamic Bank prepares sukuk
Bank to hold investor meetings this week ahead of dollar issuance.
Euro bailout fund plans EUR3bn bond
EFSF mandates Credit Suisse, Deutsche Bank and SocGen for issuance.
Tunisia and Jordan join EBRD
Admission takes countries closer to receiving bank funds to support reforms.
New chairman at Samruk-Kazyna
Deputy prime minister takes role at Kazakh sovereign fund.
QIB buys IBQ's Islamic assets
Deal includes corporate financing and deposit accounts portfolios.
RZB issues participation capital
Austrian parent group will use funds to strengthen holdings in Czech and Slovakian banks.
Nanotech fund for CIS
Russia-Kazakhstan fund looks to raise US$50mn from new investors.
Heitman forms JV for Budapest deal
Investment manager teams with Hungary’s TriGranit to run office development.
SocGen's new year appointments
New COO named alongside global markets and finance heads.
