Standard Chartered exits $75m MENA mezz investment

 The deal is Standard Chartered Private Equity’s first realisation of a mezzanine investment in the Middle East.

Standard Chartered Private Equity (SCPE) has exited a $75 million mezzanine investment in Hassan retailer Mohammed Jawad & Sons BSC (JBG) for an undisclosed return. The exit is SCPE’s first in the Middle East, it said in a statement.  

JBG owns around 550 stores in Bahrain, the UAE, Qatar, Kuwait, Saudi Arabia, Oman, and India with distribution centres in Bahrain and Dubai.

SCPE made the investment at the height of the financial crisis, helping to strengthen the company’s balance sheet at a challenging time. Taimoor Labib, a managing director and regional head of MENA private equity at SCPEL, praised the company for successfully navigating through the financial crisis.

“This investment shows SCPEL’s long-term dedication to the region and to the private equity and mezzanine asset class,” Labib said. “We continue to have a large appetite for investing throughout the capital structure of our Bank’s clients. Our ability to invest in equity and equity-linked securities, as well as mezzanine debt, gives us complete flexibility in the creative financing solutions we can provide, along with certainty of funding.”