Carlyle contemplates share sale of Medical Park, General Lighting

By IVCPOST Staff Reporter

Oct 07, 2013 09:26 AM EDT

Private equity company Carlyle Group could sell the stake it holds in Medical Park and General Lighting Co. Carlyle acquired 40% of Turkey-based Medical Park for USD 150 million. In the following year, the private equity firm purchased a 30% share in Saudi Arabia-based General Lighting. The price tag for that deal was not disclosed.

Firas Nasi, the Managing Director and Co-Head of Carlyle's Middle East and North Africa (MENA) fund, told Bloomberg in an interview that any of these two firms were ready for an IPO. Nasir said, "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." 

Nasir added that the firm's MENA fund was also thinking of getting new acquisitions in Morocco, Turkey, Saudi Arabia and other countries in the Gulf. Carlyle's holdings in the Gulf region posted a 33% growth in earnings before interest, taxes, depreciation and amortization (EBITDA) last year as compared to its EBITDA in 2011.

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