Challenger Limited
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| Company type | Private |
|---|---|
| Industry | Energy & Environment |
| Founded | 1991 |
| Headquarters | Heliopolis, Cairo, Egypt |
Key people | Hassan Tatanaki (Chairman) Mohamed Darwish (Operations) Hatem Fakhr (Finance) |
| Products | Drilling Petroleum |
Number of employees | Over 1000 |
| Website | challenger.com |
Challenger Ltd is a provider of contract oil and gas land drilling and workover services.
History
[edit]Challenger is based in the Middle East and North Africa (MENA) region, and the company Chairman is Hassan Tatanaki.[1]
VC Bank Acquisition
[edit]In 2006, Venture Capital Bank (VC Bank), a Bahrain-based investment bank, along with its partner, the U.S. private equity firm Global Emerging Markets (GEM), acquired a significant stake in Challenger. The acquisition cost roughly $50 million and was co-financed by VC Bank and GEM. This transaction demonstrated that the MENA region contains several attractive, yet obscured, investment opportunities represented in privately held companies such as Challenger.[2]
See also
[edit]
Notes
[edit]- ^ Gulf Financiers Seek to Invest in Libya, Africa Intelligence
- ^ VC Bank Acquires Stake in Challenger, VC Bank, Nov. 21, 2006
General references
[edit]- Venture Capital Bank (2006) VC Bank Acquires Stake in Challenger
- Energy Information Administration (2007) Libya: Country Analysis
- World Bank (2006), Libyan Economic Report, Social & Economic Development Group
- P. Mobbs (2002) Mineral Industry of Libya
- Thomas S. Ahlbrandt (2001) Sirte Basin Province: Sirte-Zelten Total Petroleum System U.S. Geological Survey
- Tuareg Capital - News: Gulf Financiers in Libya Tuareg Capital
- Challenger Company Profile Silicon Valley-San Jose Business Journal