Carlyle Group LP, the second-biggest private-equity firm by assets, may sell shares in Turkish hospitals group Medical Park and Saudi Arabia’s General Lighting Co. as it pursues more deals in the Middle East.
“We’re starting to reach a point where both of these companies are attractive assets and the companies are based in markets where you can pursue an initial public offering,” Firas Nasir, a managing director and co-head of the Middle East and North Africa fund, said today in an interview in Abu Dhabi. “Either of those companies would be IPO-able.”
The Washington-based buyout firm bought 40 percent of Medical Park in 2009 for $150 million and a 30 percent stake in General Lighting for an undisclosed amount in March 2010.
Carlyle is “pretty advanced” in the investment of its $500 million MENA fund and is weighing new acquisitions in Saudi Arabia, Turkey, Morocco and other Gulf countries, Nasir said. The growth in EBITDA for the six companies Carlyle owns in the region was 33% last year compared with 2011, while revenue for those companies increased 25%, Nasir said.
“We don’t expect to close another deal this year but we are optimistic on the region,” Nasir said. “We like the consumer side and we like to invest in businesses that are owned by family groups.”
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