Citadel Capital Raises $120M From Rights Offering

Law360, New York (October 19, 2011, 8:01 PM EDT) -- Citadel Capital, Africa's largest private equity firm, has received a capital boost totaling $120 million despite regional turmoil and a rocky world market, the firm announced Wednesday.

The additional cash will help Capital's “platform companies” — businesses in which the firm has invested, ranging from media to oil production — stay afloat should the economy worsen, according to the company.

The new funds, in addition to the $319.2 million raised by the companies since January, will also allow for expedited growth if conditions improve, according to...
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