Jordinvest successfully completes the privatization of Queen Noor Civil Aviation Technical College (QNCATC)

Amman, Jordan (Nov 2007) – The Executive Privatization Commission on behalf of the GoJ and Jordinvest/ Lead Manager and Financial Advisor for the privatization of Queen Noor Civil Aviation Technical College have successfully completed the transaction leading to the total sale of the college to the Royal Jordanian Air Academy (RJAA). The US $4.2 million deal was sealed off mid-November 2007 .

Jordinvest was assigned as the Lead Manager and Financial Advisor to the transaction in April 2004 through a transparent bidding process to lead the restructuring and privatization program for QNCATC, and to conduct the required due diligence studies, heading the Consortium of appointed Advisors, and orchestrating the competitive bidding process until the successful sale of QNCATC to the private sector.

Commenting on the completion of the privatization of QNCATC Ahmad Tantash, Jordinvest's Chairman and CEO said, "We are very proud of the successful completion of this deal. We hope that this success reinforces the trust the Government of Jordan has in Jordinvest and paves the way for more opportunities of cooperation. I extend my sincerest appreciation to all the members of Jordinvest who have diligently worked to make this happen." He added.

Incorporated in Jordan in 1998, Jordan Investment Trust PLC- Jordinvest is the first Jordanian public shareholding company to offer its clients a variety of integrated investment banking services. Jordinvest provides a rich line of services, chiefly debt and capital raising, corporate restructuring, financial advisory, and asset management activities. These are offered alongside comprehensive research and in-depth economic, sectoral, equity, and market analyses and forecasts.