Beltone Financial. Leading transformation. Credentials. April 2009

Transcription

1 Beltone Financial Leading transformation Credentials April 2009

2 Our Vision Enriching individual, corporate and community wealth by engaging in transformational relationships Culture Synergy Transformation Clients Community Beltone 2

3 Our Mission Beltone is a catalyst in MENA and beyond, innovatively leveraging synergies to benefit stakeholders Innovation Clients Community Beltone 3

4 Our Values Beltone culture of partnership and ownership is the source of empowerment that drives transformation in our clients and the financial community we serve Culture Clients Community Beltone 4

5 Our Pledge Beltone Financial is distinguished for Incomparable knowledge Innovative products and solutions Seamless execution 5

6 Our Office Locations Beltone offices Cairo Dubai New York Doha Tripoli Saudi Arabia With our network of offices we link clients from every corner of the world to every market in MENA 6

7 Our Company Beltone Financial Holding Beltone Investment Banking HQ Cairo Beltone Asset Management HQ Cairo Beltone Research HQ Cairo Beltone Private Equity HQ Cairo Beltone Securities Brokerage HQ Cairo Beltone Custody HQ Cairo Beltone Arabia Securities Brokerage HQ Cairo BMG Financial Group Riyadh Beltone Financial Securities Emirates Dubai Beltone Financial Qatar Beltone Financial Libya Beltone Enclave New York 7

8 Our Business Asset Management 20.6bn More than E under management Fastest growing AUM in Egypt Investment Banking 42bn More than E in transactions Unique MENA focus for advisory and capital raising Brokerage In Egypt Rank #2 in trading (2008) Multiple markets access MiFID compliant institutional offering Private Equity 1.6bn More than E in asset value Invests in strong, capable management in attractive industries Research Over 49 Research covering companies Expert regional knowledge Expanding coverage of companies and key industry sectors across MENA 8

9 Growth Milestones and Achievements Vision 2002 Consolidation 2005 Growth 2006 Stature Maturity Expansion Brought together financial professionals in Egypt and Saudi Arabia who believe in a culture of ownership Innovation Introduced first Money Market accounts, Corporate Pension plan Assets Under Management exceeded E 1.5 billion Brokerage moved to Beltone HQ Banking licence approved in KSA Research expands through MENA Private Equity capitalized with E 1.5 billion for investment in promising synergies Assets Under Management reached E 8 billion Investment Banking executes 23rd transaction AUM exceeds E 14 billion Custody office approved by CMA Research expanded to cover 30 companies MENA Fund launched Office opened in New York promoting MENA investment AUM exceeds E 26 billion Beltone acquires Obelisk brokerage Beltone AM launches another equity fund sponsored by Suez Canal Bank Beltone Brokerage ranks no.1 in Egypt for the first half of 2008 Office opened in Qatar Office opend in Libya Beltone signs agreement with CASE to launch ETF Beltone Private Equity & SIPAREX setup US$150 million Midcap fund Launched Money Market Fund with ABC Launched Money Market Fund with HSBC Investment Banking complete first transaction Beltone Research established Beltone acquired 40% of Trust Group for Securities in Egypt 2009 to date Investment banking growth 2004 to date E billion Average AUM E billion Beltone Employees 2003 to date 9

10 Investment Banking E 41.4 billion in 28 transactions closed over the past three years Unparalleled MENA market expertise Financial advisory and capital-raising services Scrupulous state-of-the-art investment banking practices Expertise advising and supporting family groups in strategic transformation Assisting clients on cross-border initiatives: International players seeking opportunities in MENA or MENA-based companies looking for international expansion or funding 42.6 bn value of Investment Banking executions over the past 5 years M&A transactions Capital and debt-raising transactions Investment Banking growth Transaction volumes in E billion Mergers Acquisitions Divestitures Corporate restructuring Leveraged buyouts Initial Public Offerings Private placements Debt-structuring 2009 to date

11 Investment Banking Landmark Transactions EAgrium merger with MOPCO 14.1bn E Merger Beltone acted as the sole financial advisor for EAgrium in its USD 2.5 billion merger with Misr Oil Processing Company (MOPCO). Throughout the process, Beltone served numerous advisory roles. Beltone carried out a relative valuation for both entities, advised EAgrium throughout the negotiations with MOPCO with respect to the valuation and deal structure, and finally executed the transaction in a timely manner. Beltone also advised the merged entity on a USD 120 million bridge debt-financing. Orascom Development Holding AG National Drilling Company Abraaj Capital/Al Borg Laboraties 16.7bn E acquisition E 16.7 bn tender offer by Orascom Development Holding AG for Orascom Hotels and Development via a share swap with a cash option. Beltone was the sole financial advisor for Orascom Development Holding AG in the tender offer. 403mE Share sale E 403 million sale of National Drilling Company, an Egyptian drilling company with operations in Libya, to Al Safat Investment. Beltone represented the selling shareholders in divesting 60% of the business. 778m E tender offer Abraaj Capital Ltd acquired Cairo Medical Tower Laboratory S.A.E (Al Borg Laboratories) for a total consideration of EGP 778 million. Beltone counseled Abraaj on a strategy to pre-empt a rival bid and executed in a notably short time period 11

12 Investment Banking Landmark Transactions Orascom Development Holding AG Sprea & Plastichem 969m 387m E capital increase E in share sale CHF 190 million initial public offering for Orascom Development Holding AG. The transaction involved a dual listing in Egypt and Switzerland. Beltone was the co-manager for the initial public offering and the sole financial advisor with respect to the listing in Egypt. E 387 million sale of Sprea & Plastichem, a leading specialty chemicals company. Beltone represented the selling shareholders in divesting the entire business. Amwal Arabia and Arabia Cotton & Ginning Company Initial Public Offering of GB Auto 734m 1.27bn E share swap E in expansion capital E 734 million share swap between Amwal Arabia and Arabia Cotton & Ginning Company. Beltone engineered a complex capital markets solution to the shareholders of both companies, which created the leading integrated textiles player in the Middle East. The global offering of GB Auto, the leading automotive player in the Middle East. Beltone advised the family business on a complete corporate and organizational restructuring culminating in raising E 1.27 billion in expansion capital in 2007 s most successful IPO in Egypt. 12

13 Investment Banking Corporate Clients Weather Investments Arab National Bank Al Tawfeek Investment Co. Modern Nile Cotton Al-Ahlia Cooperative Insurance Saudi Arabian Insurance Co Arab Cotton Ginning 13

14 Investment Banking Financing Transactions M&A and Corporate Advisory E 14,052,600,000 (USD 2,532,000,000) EAgrium s merger with MOPCO E 371,000,000 (USD 70,000,000) Joint venture between GB AUTO and Marco Polo EGP 402,704,224 Sale of 60% of National Drilling Company to Al Safat Investment E 969,000,000 (CHF 190,000,000) Initial Public Offering and dual listing in Egypt and Switzerland Exclusive Financial Advisor Exclusive Financial Advisor Exclusive Financial Advisor Co-Manager on the offering and sole listing advisor in Egypt January 2009 June 2008 June 2008 May 2008 R. Ghabbour E 16,725,103,579 E 778,299,525 E 734,242,283 E 150,000,000 Acquisition of 98.1% of Orascom Hotels and Development via a tender offer Acquisition of 76.9% of Cairo Medical Tower Laboratory (Al Borg Laboratories) Via a tender offer Acquisition of Amwal al Arabia by Arab Cotton Ginning via share swap Acquisition of Cougar Capital Management Sole Financial Advisor Sole Financial Advisor Exclusive Financial Advisor Exclusive Financial Advisor May 2008 May 2008 October 2007 October

15 Investment Banking Financing Transactions M&A and Corporate Advisory Rolaco Hotels E 278,619,625 Acquisition of 28.9% of Semiramis Hotels via a tender offer E 1,270,870,293 Initial Public Offering E 103,000,000 Pre-IPO financing via convertible loan Value Not Disclosed El Nasr Clothing (Kabo) acquisition of Wave for Trading and Agencies Sole Financial Advisor Global Coordinator, Lead Manager and Sole Bookrunner Exclusive Financial Advisor Exclusive Financial Advisor October 2007 July 2007 May 2007 April 2007 E 387,464,000 Sale of Sprea Misr and Plastichem to IFI, a subsidiary of EK Holding E 210,000,000 GB Auto s acquisition of a 49% stake in CITI E 1,350,000,000 Structuring and capital raising for a Greenfield sugar manufacturing plant E 464,069,650 Acquisition of a 26% stake in NCHD by a consortium led by Beltone Capital Exclusive Financial Advisor Exclusive Financial Advisor Exclusive Financial Advisor Exclusive Financial Advisor March 2007 March 2007 December 2006 December

16 Investment Banking Financing Transactions M&A and Corporate Advisory E 575,000,000 Capital Increase in Orascom Hotels and Development E 100,000,000 Capital Increase in Mena for Touristic and Real Estate Development E 70,000,000 Acquisition of a global Swiss trademark and subsequent capital raising E 90,000,000 The sale of Enjoy to a strategic investor Co-advisor and Placement Agent Co-advisor and Placement Agent Exclusive Financial Advisor Exclusive Financial Advisor November 2006 August 2006 June 2006 October 2005 Weather Investments E 44,426,466 Modern Nile Cotton bid for El Nasr Clothing and Textiles (KABO) E 350,000,000 Placement of equity piece in Weather Investment s acquisition of Wind E 340,000,000 Initial Public Offering E 375,857,349 Sale of Celtel International s shares in Vodafone Egypt Exclusive Financial Advisor Lead Placement Agent Lead Manager and Sole Bookrunner Lead Placement Agent and Bookrunner September 2005 August 2005 May 2005 September

17 Investment Banking Significant Transactions in KSA SAR 357,000,000 Sale of 55% of Al Sawani to Global Investment House Trade Union Cooperative Insurance SAR 105,000,000 Initial Public Offering Al Sagr Cooperative Insurance SAR 80,400,000 Initial Public Offering Saudi Arabian Cooperative Insurance SAR 40,000,000 Initial Public Offering Financial Advisor Financial Advisor and Arranger Financial Advisor and Arranger Financial Advisor and Arranger July 2008 October 2007 October 2007 May 2007 Al-Ahlia Cooperative Insurance SAR 40,000,000 E 40,000,000 Initial Public Offering SAR 70,000,000 Capital Increase SAR 200,000,000 Initial Public Offering Initial Public Offering Financial Advisor and Arranger Financial Advisor and Arranger Financial Advisor Financial Advisor and Arranger May 2007 May 2007 February 2007 February

18 Asset Management Beltone Asset Management is the leader in its industry with Assets Under Management in excess of EGP 20.6 billion* driven by our capacity to continuously introduce innovative products STRUCTURES AND MANAGES Equity funds and portfolios investing in Egypt and the MENA region Sharia a compliant equity funds and portfolios investing in Egypt and MENA Fixed income funds and portfolio as well as Sharia a compliant products Saving and pension plans Money market funds and accounts LAUNCHED The first money market account in EGP, USD and Euro First 401(k)-type tax efficient savings plan Leader in sponsoring the first regional hedge fund Beltone MENA Equity Fund Suez Canal Bank Equity Fund Arab Banking Corporation Money Market Fund HSBC Money Market Fund PIPELINE Signed contract with EGX & CMA to launch MENA s first Exchange Traded Fund on the EGX 30 Index 3 funds in the pipeline sponsored by prominent Egyptian banks Fixed Income Fund Balanced Fund Money Market Fund MONEY MARKETS ACCOUNTS Launched with Banque Misr and Egypt Post The first in MENA EGP, USD and Euro Low minimum entry (EGP 10,000 USD, EUR 5,000) No entry or redemption fees Linked to ATM machines Interest accumulated daily Liquidity & flexibility * As of March 31 st 2009 Launched Product Highlights BELTONE MENA EQUITY FUND Listed on the Irish Stock Exchange in Dublin The Fund invests in companies listed in MENA The Fund invests up to 10% in pre-ipos Safe Haven provision Low minimum entry (USD 10,000) EGYPT EQUITY FUND Sponsored by Suez Canal Bank Low minimum entry - EGP 5,000 No minimum post initial subscription No entry or redemption fees Daily subscription & redemption 18

19 Asset Management Wide Range of Product Offerings Through our knowledge in launching and managing funds, we have gained the experience of the regional asset management business which enabled us to develop innovative products that cater to varying risk-return profiles through offering different asset classes and management styles across MENA Return Remarkable industry experience catering to all investor profiles More than 12 years of regional experience Leveraged Equity Capital Guaranteed Equity Balanced Fixed Income Money Market Risk Bahrain Egypt Lebanon Jordan KSA Kuwait Morocco Oman Qatar Tunisia UAE From Money Market to leveraged Equity From Plain Vanilla to Structure Products From Morocco to Oman From Conventional to Islamic 19

20 Asset Management Diligent Investment Process Specialization and focus, combined with Beltone s CCS value added fundamental process result in lucrative stock selection and exceptional performance FUNDAMENTAL APPROACH WITH THE MAIN Alpha Drivers Specialization and Focus Specialized independent departments supporting a focused Portfolio Manager, overlooked by internal audit and compliance DILIGENT Investment Process Country focused Portfolio Managers & sector driven analysts create a top down approach with a bottom up over-lay implemented and monitored through daily, weekly and monthly meetings 20

21 Private Equity Beltone Private Equity was established in 2006 and has assets under management of more than E 1.6 billion to capture and mobilize the synergies between our financial investment expertise with our industrial operational knowledge. E 1.2 billion was under management at the closing of Beltone Capital, Beltone Investment Group and Beltone Retail 466m NAV 554m 418m NAV 623m BELTONE CAPITAL Established in the second half of E 466 million raised to invest in Egyptian companies with strong, capable managements, privatizations and turnarounds BELTONE INVESTMENT GROUP Established in December E 418 million fully invested in a controlling stake of a leading real estate development company with one of the biggest land banks in Egypt BELTONE RETAIL E 317 million committed to consolidate successful retail operations and franchises in Egypt 21

22 Private Equity A premier systems integrator and solution provider in Egypt. Since 1974 it supplies the local and regional markets with a wide range of innovative fully integrated Operation Support System and Business Support Systems. A Greenfield investment in Egypt s first integrated sugar group. The project involves the construction of a state-of-the art sugar beet production facility in Egypt in partnership with a leading sugar trader and distributor. RETAIL A global prestigious trade mark in the tableware industry since 1888, with growth strategy and plans for new international manufacturing facilities. Beltone acquired the trademark in An acquisition in December 2006, of 30% of a leading real estate development company through a tender offer. The company represented an attractive investment opportunity for an investor who is willing to assume control, develop the company to achieve its potential and management direction. Nasr City was founded in 1959, has a land bank of about 11 million m 2. A retail holding company set up in May Beltone Retail will be a driving force for the consolidation of a number of successful existing retail operations and Franchises in Egypt, while partnering with leading Gulf and multinational retailers and franchisors, that are seeking a strong Egyptian local partner. Beltone Retail is leveraging the financial, retail, and real estate synergies that are available to Beltone Private Equity. 22

23 Securities Brokerage Beltone Securities focuses on institutional investors from the US, Europe and the region along with high-net-worth individuals, executing and settling seamlessly in several markets by leveraging a strong proprietary network as well as strategic partnerships over 1,200 clients worldwide Single broker contact available in markets with Beltone presence Egypt Kingdom of Saudi Arabia UAE Brokerage clients US UK Ireland Germany Switzerland Egypt France Kuwait KSA UAE Bahrain Qatar 23

24 Securities Brokerage Landmark Transactions Bank of Alexandria Banque Misr Banque du Caire Orascom Building Materials Holding Buyer: Sanpaolo IMI SPA Seller: Government of Egypt (GOE) Date: october 2006 Value: LE9.2 billion Merger: Banque du Caire with Banque Misr Date: May 2007 Value: LE1.6 billion Transaction: Orascom Building Materials Buyer: LAFARGE Seller: oci Date: January 2008 Value: LE71 billion Egyptian Container Handling Co. Egyptian Fertilizers Company Transaction: ECHCO Buyer: DP WORLD Seller: oci Date: February 2008 Value: LE3.7 billion Transaction: EFC Buyer: oci Seller: ABRAAJ Capital Date: March 2008 Value: us$1.6 billion 24

25 Research Beltone s Research Department is acknowledged as the authoritative source for qualitative and quantitative information on the MENA region s rapidly expanding capital markets. By the end of 2009, coverage will extend to include shares from Morocco to Lebanon and Oman Beltone Research Products General Market Products Company-Specific Products Sector-Specific Products Egypt & MENA Region News Egypt Daily Statistics Egypt Trend Watch & Technical Table Qatar Trend Watch UAE Daily & Weekly Statistics UAE Trend Watch & Technical Table BMG Saudi Daily & Weekly Bulletin BMG Saudi Index BMG Trend Watch Regional Trend Watch Initial Coverage Reports Company Update Reports Company Newsflash Reports Sector Reviews Regional Economic Research Regional Strategy Research Thematic Research * * * As of March 31 st 2009 COMPANY COVERAGE MENA REGION RESEARCH PUBLICATIONS 25

26 Research Countries Covered and Distribution Covered by research Research distributed 32 countries Algeria Austria Bahrain Belgium Canada Chile Cyprus Czech Republic Denmark Egypt France Germany Greece Hong Kong Italy Japan Jordan KSA Kuwait Lebanon Malaysia Netherlands Norway Pakistan Philippines Qatar Switzerland Syria Thailand Turkey UAE UK Ukraine USA Yemen 26

27 Custody Currently more than E 10.9 billion*. Investors benefit from fast execution and settlement through the efficient receipt, delivery and safekeeping of securities, cash and foreign exchange Beltone Securities Holding gives clients the benefit of their assets held under direct operational control Safe custody of assets Income and dividends collection Corporate action processing Proxy voting processing Standard custody reporting The Custody team comprises highly qualified industry specialists with experience in leading regional and international investment banks. Beltone Securities Holding is regulated by the Egyptian Capital Market Authority. Assets and processes are in compliance with all regulations in the diverse markets in which Beltone operates. * As of March 31 st

28 Beltone Academy The first group of prospective new entrants into the investment banking industry are attending a course designed to give them an experience of the careers open to them in the Financial Services Industry Recognizing the significance to MENA of a world class Financial Services Industry Taking a leadership role to develop a core of top-notch professionals Investing time and resources to identify and mentor future leaders Sharing Beltone s global knowledge, skills and experience Offering young people unrestricted opportunities Contributing to MENA s overall economic growth 28