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FinancialNews


  • 18-10-10

    MerchantBridge launches equity fund in Iraq

    (MENAFN) MerchantBridge, a global private equity group, said that it has launched an equity fund in Iraq and plans to close a deal of up to $100 million in Saudi Arabia in early 2011, Reuters reported Chief Operating Officer Eric le Blan said that the firm, with over $1.5 billion worth of investments in Iraq, has also launched the Mesopotamia Fund to invest in Iraqi equities. The fund is targeting about $10 million initially, he said, adding that an earlier construction materials fund in Iraq closed in February this year. MerchantBridge with investment interests operating from Iraq, Lebanon, United Arab Emirates and the UK has done 10 private equity deals so far valued at $3 billion. The firm has exited four of these, he said. Early this month, the firm finalized a $220 million investment in Iraq's Karbala cement plant with French cement maker Lafarge.

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