La Banque islamique européenne d’investissement (EIIB) basée à Londres vient d’investir £ 1,8 million dans la société sud-africaine DiamondCorp, laquelle intervient dans l’extraction du diamant. EIIB avait lancé en avril dernier un fonds de private equity basé sur les règles de la charia.
EIIB announces private equity investment in DiamondCorp
European Islamic Investment Bank plc (“EIIB”) announces that its Private Equity business has invested £1.8 million in DiamondCorp plc (“DiamondCorp”), the South African diamond mining company. Following the investment, EIIB will have a 9.735% shareholding in DiamondCorp. DiamondCorp will offer to EIIB representation on DiamondCorp’s Board.
EIIB launched its Private Equity and Corporate Advisory business in April 2008 to invest in Sharia’a compliant private equity transactions. The business, headed by Robin Henshall and supported by Marcus Scott, focuses on Europe, the Middle East and Africa and targets the Natural Resources, Energy, Agriculture, Real Estate, Transport & Logistics, Consumer Luxury Goods, Retail and Support Services sectors.
DiamondCorp is a South African diamond mining company listed on the Johannesburg Stock Exchange and the AIM market of the London Stock Exchange. The Company is developing the Lace kimberlite mine (“Lace”) and the project, which is more than twelve months ahead of schedule, will begin mining before the end of 2008. At peak production, Lace is expected to produce more than 500,000 carats of gem diamonds per year.
Robin Henshall, Head of Private Equity and Corporate Advisory, said: “We are delighted that our Private Equity business has already delivered its first investment. DiamondCorp is a perfect example of our target strategy; the company has a highly experienced management team, the business is producing revenue and the profit potential is highly attractive. The diamond market has strong underlying fundamentals, including the long-term supply shortage which, we believe, will lead to a strengthening in diamond prices. DiamondCorp has excellent prospects and EIIB’s investment will enable the Company to maximise its potential.”
Source : EIIB