Jordan Investment Trust PLC (Jordinvest), a leading provider of integrated investment and financial services locally and regionally, has signed an agreement with Jordan Wood Industries (Jwico) and Depa Interiors Limited (Depa).

The agreement involves raising Jwico’s capital, introduce Depa as a new strategic partner in Jwico’s investments and conclude the private placement process, said an official spokesman.

This partnership took place over two phases. In the first phase, Jordinvest and other investors sold part of their shares in Jwico to Depa, a leading provider of interior contracting services in the Middle East and North Africa.

During the second phase, Depa raised Jwico’s capital by buying one million new shares thereby increasing its investment in Jwico to 36.4 per cent.

Jordinvest was the lead manager of this transaction. The deal was concluded after a series of advisory and due diligence followed by the approval of main shareholders and investors and Jordan Securities Commission, upon which the shares were issued for private subscription.

Jordinvest’s investment in Jwico began in 2001. Over the years, Jwico attained remarkable success and growth and the highest sales in its history with an outstanding profit margin.

The boom in the Jordanian economy and especially the real estate sector was the main catalyst behind this success. With its global expertise, Depa comes on board today as a new partner to expand and add new vision and innovation to Jwico’s projects to attain a regional presence.

“This agreement comes as part of our exit strategy that we adopt in our investment policies.  We are proud of what we have achieved by investing in Jwico and see in Depa the perfect partner with a forward vision to capitalize on what we have achieved so far.  We encourage ambitious investments that contribute to the development and progress of our economy,” said Jordinvest’s chairman and CEO Ahmad Tantash.

Jwico offers high quality services in the wood industry by providing a variety of products, including doors, kitchens, bedroom and offices to its clients in Jordan and the region. 

Similarly, Depa Interiors Limited, headquartered in Dubai, specializes in sophisticated interior design for world-class hotels, yachts and apartments.  Depa has provided the interior design for different hotels in Jordan, Bahrain and the UAE, in addition to hotels in France, Greece, Switzerland, and the US, among others. – TradeArabia News Service