KBBO appoints banks for Centurion London IPO

30 November 2015

US and regional banks work on $1bn-plus deal

KBBO Group, an Abu Dhabi-based investment holding firm, has appointed Goldman Sachs and Morgan Stanley for a $1bn-plus London listing for one its subsidiaries, according to Reuters.

KBBO plans to list 40 per cent of Centurion Partners in an initial public offering (IPO), the news service quoted sources familiar with the matter, The IPO is planned for first half of next year.

Goldman Sachs and Morgan Stanley will be the bookrunners and global coordinators while Egyptian investment bank EFG-Hermes is hired as a bookrunner. Emirates NBD and Abu Dhabi Islamic Bank (ADIB) will act as co-lead managers. Guggenheim KBBO Partners, a joint venture between New York-based investment firm Guggenheim Partners and KBBO, is also acting as an adviser on the deal, according to Reuters.

KBBO plans to use the proceeds from the share sale to monetise existing investments and fund new opportunities. KBBO’s investments range from financial services to defence and it owns stakes in healthcare provider NMC Group, remittance and foreign exchange business UAE Exchange and UAE Defence Technology Company among others.

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