Successful final close of Elaj Medical Services transaction

18/12/2011 00:00 AST

Saffar Capital has announced the completion of its mandate to sell an equity stake on behalf of Elaj Medical Services Company (Elaj).

Acting as financial adviser to Elaj, Saffar successfully structured a transaction to sell a 42 per cent stake of Elaj to NBK Capital. Saffar’s CEO Mishaal Al-Usaimi has been nominated to the company’s Board of Directors to serve as an independent board member. Al-Usaimi said, “We are very excited by this opportunity and are confident it will help Elaj continue on its growth trajectory. Healthcare is an important sector in the region and this transaction demonstrates Saffar’s capabilities within this high growth sector.”

Dr. Sanad Al-Fadala, Chief Executive Officer of Elaj said, "We are extremely pleased with Saffar’s standards of professionalism. The group has a strong track record and a depth of experience in structuring complex transactions in a number of regional projects. We believe the new partnership will add value to our business and allow us to successfully continue our expansion throughout the region."

Saffar is a financial services firm focusing on investments and advisory services in the MENA region and regulated by the Dubai Financial Services Authority (DFSA). Saffar Capital’s services cover two main areas: corporate finance and investment advisory.


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