EFG Hermes Successfully Concludes Advisory on the Demerger of Al Arafa for Investment and Consultancies S.A.E into Two Companies which are Concrete Fashion Group and Gtex
تاريخ النشر: 24th, March 2024 GMT
EFG Hermes، an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that it concluded advisory on a EFG Hermes Successfully Concludes Advisory on the Demerger of Al Arafa for Investment and Consultancies S.A.E into Concrete Fashion Group for Commercial and Industrial Investments (Concrete) and Gtex for Commercial and Industrial Investments (Gtex).
In a bold strategic move، the recent demerger aimed to carve out the essence of style and industry prowess، housed within Concrete، from the array of strategic investments held by Gtex. This pivotal decision was fueled by a collective vision to sharpen management focus on every facet of the business، empowering both entities to soar to new heights of performance. By fostering specialized management attuned to the distinctive requirements of each entity، the stage is set for a future brimming with innovation and success. Moving forward، each of the two entities will maintain its distinctive and focused management approach، allowing them to pursue separate paths of growth within their respective industries. This strategy aims to maximize shareholder value by capitalizing on the unique dynamics and aspirations of each entity's growth trajectory.
Maged El Ayouti، Co-Head of Investment Banking at EFG Hermes، commented، "We are proud to have played a key role in guiding the strategic demerger of Al Arafa for Investment and Consultancies S.A.E. This transformative decision sets the stage for Concrete and Gtex to focus on their core businesses، igniting operational excellence and unlocking unparalleled shareholder value."
Dr. Alaa Arafa، Vice Chairman and CEO of Concrete and Gtex، said “We have been working along the impressive team of EFG Hermes to make this happen and we are always proud of our partnership with them – the detailed process and the time frame for execution reflect the commitment of EFG Hermes to deliver a state-of-the-art international investment banking service.”
The transaction is the latest in a series of strategic transactions EFG Hermes’ investment banking division has completed. Most recently the firm successfully concluded advisory on Parkin’s IPO on the DFM، Cenomi Retail’s Sale of a Portfolio of Fashion Brands to Abdullah Al-Othaim Fashion in KSA in addition to Kazyon’s acquisition of Dukan in KSA. In addition، the firm also successfully concluded advisory for Talaat Moustafa Group Holding (TMG) on the placement through a strategic investment via a capital increase by ADQ and ADNEC Group for 40.5% in TMG Holding’s hospitality arm، ICON Group (ICON)، to acquire 51% in the portfolio of 7 Historical Hotels for a total consideration of US$800 million. Last year، the Firm closed a total of 28 transactions valued at USD 7.6bn between ECM، DCM، and M&A deals. In 2023، it successfully concluded the successful IPO of ADES Holding Company (ADES) on the Saudi Exchange (Tadawul)، as well as Lumi Rental Company’s IPO on the Saudi Exchange (Tadawul)، it also successfully concluded the landmark IPOs for ADNOC L&S and ADNOC Gas Plc on the Abu Dhabi Securities Exchange (ADX). Additionally، EFG Hermes facilitated the listing of OQ Gas Networks on the MSX – the Largest IPO in Oman’s History، Abraj Energy Services on the Muscat Stock Exchange (MSX)، as well as the IPO of Al Ansari Financial Services PJSC on the Dubai Financial Market (DFM).
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SSIF’s assets grew by JD 1.7 billion to reach nearly JD 18 billion at the end of Q3 2025
صراحة نيوز –
The Social Security Investment Fund (SSIF) reported a record performance for the first nine months of 2025, with total assets nearing JD 18 billion by the end of September — an increase of JD 1.7 billion, or 10.6 percent, since the beginning of the year.
This growth was driven by an increase in total income, which advanced to JD 1.6 billion compared with JD 664.5 million for the same period last year — a 133.5 percent increase — along with the JD 164 million surplus transferred from the Social Security Corporation.
Total income was primarily derived from JD 809.6 million in realized income from the Fund’s investment portfolios and JD 741.7 million in revaluation gains from its strategic equity holdings.
Net income generated from the Fund’s diversified portfolios grew by 16 percent year-on-year, supported by income of JD 454.6 million from bonds, JD 222.4 million from equities, and JD 104.9 million from money-market instruments, in addition to returns from loan and real-estate investments.
The Fund’s assets were mainly allocated to bonds 57.8 percent, equities 18.2 percent, money-market instruments 12.6 percent, real estate 5 percent, loans 3.2 percent, and tourism investments 1.8 percent.
Chairman of the Investment Board, Omar Malhas affirmed that the results achieved during the year reflect the Fund’s solid and disciplined investment approach, which is based on long-term planning, diversification of investment instruments, and investment in viable projects that add value to the national economy.
He added that the Fund continues to strengthen its position as a pivotal national partner in implementing major strategic projects that form a key pillar of sustainable growth in the Kingdom—most notably through its participation in the National Water Carrier Project. He further noted the Fund’s commitment to pursuing investments that enhance portfolio diversification and align with the objectives of the Economic Modernization Vision.
Malhas emphasized that these strategic ventures demonstrate the Fund’s investment-driven national mission to generate sustainable returns that reinforce its financial strength. He added that this approach also reflects the Fund’s enduring institutional role in supporting the Kingdom’s economic framework and promoting a stable, efficient, and forward-looking investment environment.
SSIF CEO, Dr Izzedine Kanakrieh, stated that the Fund continued during the third quarter to translate its investment plans into tangible results through active portfolio management and prudent decision making, reflecting mature and disciplined policies.
He noted that the Fund has strengthened its holdings in several strategic listed companies on the Amman Stock Exchange, guided by a measured approach based on thorough evaluation and well-studied opportunities that enhance value and reinforce the Fund’s long-term position. This approach, he said, reflects confidence in Jordan’s capital-market outlook and underscores the Fund’s commitment to institutional investment practices that balance return and sustainability.
Kanakrieh also highlighted the Fund’s expanding activity in the real-estate sector, including the acquisition of strategically located lands and the signing of long-term lease agreements with local investors under the Build-Operate-Transfer (BOT) model. These initiatives, he explained, stimulate economic activity, create jobs across governorates, and enhance both the value and sustainability of the Fund’s asset base.
He added that these efforts reaffirm the Fund’s role as a national institutional investor dedicated to safeguarding the savings of Jordanians while achieving sustainable returns
The Social Security Investment Fund will continue to implement its long-term investment strategy, guided by an institutional approach that combines efficiency and sustainability, and enhances its enduring contribution to Jordan’s economic and social progress and development.
لميس الحديدي: على المصريين التبرع لأهل غزة رغم أزمتنا الاقتصادية (فيديو)