Egypt's Citadel buys stake in African rail company

Egypt-based private equity firm Citadel Capital has announced that it has acquired a 49% stake in South Africa-headquartered Sheltam Railways, which is the main shareholder in Rift Valley Railways of Kenya and Uganda, Reuters has reported. The deal gives Citadel Capital an effective ownership of 17.5% of RVR. 'Citadel Capital will look to inject more than $150m in Kenya, Uganda Railways over the coming five years,' Citadel Capital managing director, Karim Sadek said in a statement.