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19/06/2012 07:58 AST
AMAR Holding, a leading developer and investor in commercial and Global Emerging Markets Limited (GEM Group), a European-based alternative investment group focused on making capital investments in emerging markets including the Middle East and North Africa (MENA) region, hereby announce the signing of a three-year financing agreement lead by GEM for a total amount up to 73.675 million. This was announced in a press release on Monday. According to the terms of the Agreement, AMAR Holding has the right to access the financing contemplated in the Agreement through the issue of shares and bonds convertible to shares of Remal issued to GEM via a private placement. The Company intends to use the funds to develop real estate projects in the region, particularly in Sharm El Sheikh and Dubai. The funds will be used to effect acquisitions and fully develop projects. The deal was advised by Soter Capital. Soter is a boutique investment bank offering tailored top-tier quality financial services in the Middle East and North Africa.
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Financial Information Co.