Citadel Capital acquired 49% stake in Sheltam Railways Company

Citadel Capital, one of the largest private equity firms in Africa and the Middle East acquired a 49% stake in Sheltam Railways Company, the largest single shareholder and lead investor in Rift Valley Railways of Kenya and Uganda.

Sheltam owns 35% of Rift Valley Railways and the transaction gives Citadel Capital an effective ownership of 17.5% of RVR. Citadel Capital will look to inject more than $150 million in Kenya Uganda Railways over the coming five years.

Citadel Capital is listed in the Middle East Investors Directory with the code EM08.

Their full press release follows