Accelero Capital announced today that it has signed a six year advisory agreement with The Board of Directors of Orascom Development Holding AG (“ODH”) whereby Accelero Capital will provide advisory services to assist ODH in implementing an operational and financial turn-around under the guidance of the Board of Directors and management of ODH.
Mr. Khaled Bichara, CEO and Co-Founder of Accelero Capital, will assume the role of the new Chief Executive Officer (CEO) of ODH effective 1 January 2016 and will assume a non-executive role at Accelero Capital.
Mr. Samih O. Sawiris commented: “We are delighted to welcome Khaled Bichara on board as CEO and Accelero Capital to assist the Board and the management in ODH’s turnaround journey. Accelero Capital, led by Khaled, has a successful track record globally of strategic investments and operations. Khaled is a proven leader who has wide experience and an excellent track record of delivering results.” Mr. Sawiris also expressed the Board’s confidence in Mr. Bichara.
“We are excited to be working closely with the creators of global touristic landmarks to help unlock the potential value of this great Group. We are confident that our combined experience will enable us to optimize the value of ODH’s assets” said Mr. Bichara.
About Accelero Capital
Accelero Capital is an investment and management group focused on telecommunications, digital media and technology, but rapidly diversifying into other fields. Accelero Capital’s team has an unparalleled track record in strategic, operational and financial management. Accelero Capital was established by former Orascom Telecom, Wind Telecom, VimpelCom and LINKdotNET top executives. The Accelero Capital team leverages its expertise and sector know-how to identify high-growth assets and assets with turnaround potential. www.accelerocapital.com
For further information:
M: +20 122 000 9578