Global acts as the Financial Advisor for the Merger between MECE & National Integrated Industries Complex Co. (NIIC).

Summary: Global Investment House in Jordan "Global" announced the signing of a financial advisory mandate with the Middle East Complex for Engineering, Electronics and Heavy Industries PLC (MECE). Global will play the role of the Advisor for the merger transaction between MECE and the National Integrated Industries Complex Co (NIIC). This merger will be considered one of the largest in the Middle East in the field of electronics with potential combined assets reaching around JOD 600 million.

Global Investment House in Jordan "Global" announced the signing of a financial advisory mandate with the Middle East Complex for Engineering, Electronics and Heavy Industries PLC (MECE). Global will play the role of the Advisor for the merger transaction between MECE and the National Integrated Industries Complex Co (NIIC). This merger will be considered one of the largest in the Middle East in the field of electronics with potential combined assets reaching around JOD 600 million.

The Middle East Complex for Engineering, Electronics and Heavy Industries PLC is a leading producer, trader, distributor and exporter of consumer electronics and electric home appliances in the region and collaborates with some of the biggest names in the global electronics industry, namely LG Electronics. In addition, it manufactures, assembles and markets a wide range of electronic products under its own brands.

Its current capital is JOD 100 million, 20% of which is owned by the Kuwaiti National Industries Group, 18% owned by Mr. Osama Al-Khalili and 8.7% is owned by United Arab Investors. The total assets of the company stands at JOD 420 million and shareholders' equity around JOD 180 million.

On the other hand, NIIC's total initial investment reached around USD165 million, with an authorized current capital of JOD 10 million, 70% of which is owned by MECE and 30% owned the UAE Group, National Holding Company.

Commenting on this deal Global's CEO Mr. Bader Al Sumait said "We are proud to be part of this exclusive deal and to provide our advisory services to one of the most important mergers in the electronics industry in the region. This deal shows the commitment of privately owned companies to driving the economic wheel forward and providing investors and consumers with high end-products."

Mr. Osama Al-Khalili, MECE's Chairman said, "MECE decided to set up a new state-of-the-art factory, namely NIIC with the best international specification that specializes in manufacturing electric and electronic home appliances, to be the first of its kind in the region compatible with the existing factories as it's dedicated for manufacturing refrigerators, air conditions, and drum washing machine according to the latest manufacturing process that known as Complete Knock Down (CKD).

Mr. Al-Khalili added, "The role Global will play in providing detailed and accurate financial analysis is esential, as Global is known for its financial advisory track record, professionalism and accuracy on the local and regional levels."It is worth mentioning that Global in Jordan is fully owned subsidiary of Global, one of the leading asset management and investment banking companies in the GCC and the wider Middle East and North Africa ("MENA") region.With 30 employees, Global is growing to be a full-blown investment banking firm in Jordan providing services in asset management, investment banking, wealth management, research, and brokerage. The Investment Banking division provides a wide array of services that include private placements, M&As, privatizations, advisory services, and IPOs.

2009 Al Bawaba (www.albawaba.com)

2009 Al Bawaba (Albawaba.com)

Provided by Syndigate.info an Albawaba.com company