Beltone Private Equity teams up with Kenana Sugar Co., to invest up to $1bn in projects in Egypt and Sudan

Beltone Private Equity, the private equity arm of Egypt’s Belton Financial investment bank, has teamed up with Khartoum-based Kenana Sugar Company to invest up to $1bn in large-scale infrastructure projects in Egypt and Sudan, according to reports.

Hazem Barakat, CEO of Beltone Private Equity, said in a statement that Beltone would provide extensive investment management, corporate finance, and strategic capabilities.

Kenana will provide technical expertise for the venture.

Kenana’s biggest investors are the Sudanese government, the Kuwait Investment Authority and the government of Saudi Arabia. The company was established in 1975, claims to be one of the world’s largest integrated sugar companies located on the eastern bank of the White Nile. Kenana produces 400,000 tonnes of sugar per year.

Beltone Private Equity was established in 2006. As of end October 2008, the company reported over EGP1.5bn ($271m) in assets under management in a diverse range of investments.

Source: AltAssets, 21 Aug 2009 - Egyptian private equity firm teams up with sugar company to create fund

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