EuroMena Fund Sold its Share in Chedid Capital Holding
On the 21st of July 2015, the EuroMena Fund announced that it has withdrawn from regional insurance Chedid Capital Holding (CCH), the prior month, by selling its share in the company to Saudi Al Rashed Group’s affiliate company, Rimco. In 2008, the Fund invested $6M in CCH. The stake was sold at $14.4M, a 2.4 price multiple.
CCH manages insurance and reinsurance companies in 9 countries across Europe, the Middle East, and Africa. It has extended its scope to more than 35 countries over 3 continents. With the support of the EuroMena Fund, CCH has effectively set up 8 subsidiaries covering international markets including Sub-Saharan Africa.
The EuroMena Fund Management Team plans to exit, by 2016, the software development, agro-business, and packaging and paper production industries, where the team respectively funds ITWorx, Wadi Holding, and Wataniya.
The EuroMena Fund Management Team has raised above $300M from major investors and closed more than 20 investments and divestments.
Chedid Capital Holding Companies
| Aim | Country | |
| Chedid Corporate Dolutions LLP | Provides end-to-end consultancy services to entities in the insurance sector with specific focus on life and health insurance | Lebanon |
| SEIB Insurance and Reinsurance Company LLC | Provides high quality insurance products and services for corporations and individuals | Qatar |
| Chedid RE | Services a growing demand for a reliable, innovative and professional reinsurance broker in the MENA | UAE, Cyprus, KSA, Lebanon |
| Chedid & Associates | offers a full range of General Insurance and Employee Benefits products | Qatar, UAE, KSA |
Source: Company Website
