Qalaa says has no role in UAE EIIC – Citadel Capital Partners dispute

Egypt’s Qalaa Holdings, an African leader in energy and infrastructure, said Thursday it has no role to play in the dispute between Emirates International Investment Company (EIIC) and main shareholder Citadel Capital Partners.

Emirates International Investment Company has filed earlier a lawsuit against Citadel Capital Partners, the main shareholder in Qalaa Holdings.

Qalaa Holdings further said in a statement to the Egyptian bourse on Thursday that it was not part of the dispute and that the dispute is between EIIC and Citadel Capital over a payment.

The arbitration procedures are confidential and Qalaa Holding is unaware of the details, it added.