Lesha Bank concludes a joint investment deal in Ikaterra International Company

16-11-2022


Lesha Bank LLC (public) (the “Bank”) announced the completion of a joint investment deal with the global investment fund “CVC Capital Partners”, where the bank invested through a company it established for this purpose, with an amount of 75 million Euro to acquire a non-controlling stake (less than 5%) in the capital of the new holding company of the international tea company Ekaterra.
This investment represents a valuable addition to the bank's private equity portfolio that is compliant with the provisions of Islamic law. It also reflects the bank's ability to reach successful deals within the framework of private equity through its partnership with the global investment fund "CVC Capital Partners", a pioneer in the field of private equity investment as part of the bank's growth strategy internationally.
Ikaterra operates a large portfolio of 34 prominent brands and was established by Unilever in 2021 as a standalone company. In November 2021, a new agreement was concluded to sell the company to the “CVC Capital Partners” fund, as the acquisition was completed on July 1, 2022. The company operates in more than 80 countries, with 11 production plants on four continents and its own tea plantations in three countries. The company owns a diverse portfolio of tea brands that are well known around the world, including Lipton, Brooke Bond, PG tips, Pukka, T2 and TAZO. The Lipton and Brooke Bond brands have been in operation for more than 150 years.

In this context, His Excellency Sheikh Faisal Bin Thani Al-Thani, Chairman of Lisha Bank, said: “We are pleased to enter into this partnership with the CVC Capital Partners fund by investing in the famous Ikaterra company. This deal is a clear indication of Lesha Bank's experience in the field of investment in various global markets, as well as its leadership in providing profitable investment opportunities for its local clients. We support the great role played by the private equity department in the bank in order to achieve future growth momentum, and we also appreciate the efforts made by the management staff in order to provide the ability to access a range of distinguished products that are compatible with the provisions of Islamic law, which we hope will achieve the investment aspirations of our valued customers. Over the past few years, we have succeeded in achieving a proven track record of investing in and exiting from private equity products, and we look forward to exploring more markets with the aim of diversifying our offerings and providing attractive Sharia-compliant investment opportunities in addition to the ability to achieve significant gains and positive returns on investment.”
For his part, Mr. Abdurrahman Totonji, CEO of Lesha Bank, said: “The private equity team at Lisha Bank succeeded in entering into another important transaction, as it concluded a landmark partnership with the private equity fund “CVC Capital Partners” to invest in the international company Ikaterra. This step is a great achievement for the bank, and I would like to thank our private equity team for their continuous efforts to enhance our diversified portfolio, which qualifies us to cooperate with high-level private equity funds. Our main focus remains on strengthening and expanding the bank's private equity portfolio through carefully selected deals. Within the framework of the bank's future and strategic direction towards achieving sustainable revenues, we are proud to participate in this investment with the "CVC Capital Partners" fund, which targets Ekaterra, which is one of the most famous and prominent companies in the world in this field.
Lesha Bank LLC (public) formerly known as Qatar First Bank, is the first independent Sharia-compliant bank authorized by the Qatar Financial Center Regulatory Authority (QFCRA) and listed on the Qatar Stock Exchange (symbol: QSE: QFBQ).


More News