E&Y launches E&Y Corporate Finance

Date: 27-09-2007
Source: Middle East Company News

In a trend-setting move to provide highly specialized corporate finance services to its clients and following the issuance of licenses by various capital market authorities across the region, Ernst & Young, one of the world's pre-eminent professional services firms, today announced the formation of a region-wide network of dedicated corporate finance professionals under one brand named Ernst & Young Corporate Finance (EYCF).

The network, which is part of E&Y's Business Advisory Solutions Group, will carry out the firm's corporate finance related services. These services include private placements, divestitures, arranging debt and equity finance, mergers and acquisitions advisory, IPO services, securitizations, and restructuring services.

Ernst & Young has obtained licenses from the Capital Market Authority in Saudi Arabia, Dubai International Financial Centre, Jordan Securities Commission and the Central Bank of Bahrain to ensure seamless delivery of its corporate finance services across the region. The firm is in the process of securing similar licenses from the authorities in other Middle East countries including Oman, Qatar, Egypt, Lebanon and Syria.

Omar Bitar, Managing Partner, Business Advisory Solutions, E&Y Middle East said:
"The establishment of the EYCF Middle East region wide network creates a powerful group of dedicated corporate finance entities that draws on the history of Ernst & Young and the strength of our resources. Over the past twenty years, we have advised our clients through large transactions and have successfully accomplished many corporate finance advisory and fund raising mandates. Our team of seasoned and skilled corporate finance professionals, who now function fully under EYCF, spreads across our 17 offices in the Middle East and extends into our global networks in Europe, South East Asia, North America and Australia."

Azhar Zafar, CEO of EYCF at the DIFC and Head of Mergers & Acquisitions, Ernst & Young Middle East, concluded: 'Our clients need specialized corporate finance advisory services and we are ideally positioned to provide this value added service. Our prime objective is to provide the right transaction advice as it enhances shareholder value. We play a critical role in evaluating, structuring and helping our clients execute deals, ultimately helping them achieve their stated objective. With the establishment of the EYCF Middle East network, our clients now have access to an international financial advisor who combines superior knowledge of the local markets, rich regional experience that goes back several decades and cross border flexibility.'

About Ernst & Young Middle East
The Middle East practice of Ernst & Young is an independent professional services firm, which has operated in the region since 1923 and is a full member of Ernst & Young Global. Over the past 80 years, the firm has evolved to meet the legal and commercial developments in the region. Ernst & Young Middle East currently has over 3000 staff working from 17 offices in 13 Arab regions. The following outline the various professional services provided to clients in the Middle East, and are in addition to the more traditional and core services of audit, accounting assistance and taxation advisory services:

*Assurance & Advisory Services, Business Risk (Internal Audit) Services, Business Management and Transformation Advisory Services, Corporate Finance Advisory Services, Information Technology Advisory Services, Technology Security and Risk Services, Transaction Support Services, Islamic Financial Services, Hospitality and Leisure Consultancy, Business Community Training.