March 24, 2014 – Digital Media PP Holding successfully exited its investment in Diwanee Media Company, a leading digital media player that covers the female segment in the Middle East. The deal was concluded on February 28, 2014 when Webedia, a Paris-based digital publishing company, agreed to acquire a controlling stake in Diwanee. MedSecurities Investment, a subsidiary of BankMed, acted as the Arranger and Placement Agent for the deal.
Webedia operates lifestyle publications that attract more than 40 million users with global presence in France, Brazil, Turkey, Germany and Spain. Webedia taps the Middle East digital space by acquiring a majority stake in Diwanee Media Company and commits an additional USD 5 million to boost the expansion of the existing portfolio of premium digital properties, product innovation, and vertical diversification.
Khaled Zeidan, Executive General Manager of MedSecurities Investment, commented on the transaction stating that, “This successful exit gives us additional confidence in the Lebanese Information and Communication Technology sector and its ability to attract international acquirers. It also confirms that alternative investment opportunities with high returns are growing in Lebanon.”
Founded in 2009, Diwanee is a pioneer in offering women-centric websites in Arabic language with original, high-quality and innovative content of core interest to the Middle-Eastern woman. The main platforms of Diwanee are: “3a2ilati.com,” a portal focused on family, education, health and cooking; “Yasmina.com,” a female lifestyle, beauty and fashion portal; and “Mooda.com,” a fashion e-commerce portal promoting leading Arab fashion and accessories designers. Today, Diwanee attracts more than 5 million users per month with most of its strategic audience located in the Gulf region. The company has offices in Beirut, Dubai and Belgrade.
MedSecurities Investment, a member of BankMed Group, is a leading financial institution based in Beirut, Lebanon. It offers a range of brokerage and investment services covering financial instruments in different markets. The services include access to global equity and debt markets as well as emerging markets with an emphasis on the Levant and GCC region.
MedSecurities is a leading arranger and placement agent for a number of private placements in Lebanon and has successfully executed several equity raising transactions amounting to more than USD 700 million in the past seven years in several sectors and involving different asset classes.
Established in 2006, MedSecurities started off as a brokerage arm of BankMed but has since evolved its products and services to include investment product development, private placement transactions, and institutional fixed income trading. MedSecurities boasts a team of 20 front-office professionals and an extensive client base throughout the region. For the past three years, MedSecurities gained international recognition and received the Best Broker Award in 2011, 2012 and 2013 by Global Investor/ISF, a flagship title published by Euromoney Institutional Investor.