M1 Group

M1 group is a diversified investment holdings group based in Beirut, Lebanon. Its CEO is Azmi Mikati.[1]

Origin

The business was created in the early 1980s by Taha Mikati and Najib Mikati, the latter of whom became Prime Minister of Lebanon in 2005, and again in 2011.[2] It began in the construction sector. During the 1980s it expanded into telecommunications and formed the basis of their flagship company Investcom. In 2005, Investcom employed more than 5000 people with a presence in ten countries across three continents. Its gross earnings reached $660 million. When listed on the London Stock Exchange and that of Dubai on 6 October 2005, it had a market capitalization of $3.3 billion and was among the largest companies in the middle east.

In June 2006, the South African company MTN bought Investcom for $5.5 billion,[3] thereby becoming the first mobile phone corporation for the middle eastern market.

In 2007, the Mikati brothers founded M1 Group, which now comprises:

  • M1 limited, which holds a 10% stake in MTN
  • M1 Real Estate which owns real estate in Europe, the United States and the Middle East[4]
  • M1 Fashion which owns several clothing brands including Façonnable, Pepe jeans and Hackett London[5][2]
  • M1 Capital, which oversees the holding's financial assets and portfolios
  • M1 Enterprises, which main activity is to invest in various businesses across different sectors
  • M1 investments, which focuses on managing the holding's private equity funds
  • AREEBA, a financial technology company

In February 2010, M1 Group acquired 50% of the EFG-Hermes stake in the Lebanese Bank Audi, the largest bank in the country, for $450 million.

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References
  1. "M1 Group". Mbendi.com. 25 October 2015. Archived from the original on 28 January 2013. Retrieved 12 November 2015.
  2. "Pepe Jeans passes to M1 Group and L Capital Asia". Sportswearnet.com. Retrieved 12 November 2015.
  3. The World's Billionaires: #446, Najib Mikati, Forbes, published 5 March 2008, retrieved 7 July 2011
  4. Lebanese investors buy Credit Suisse’s Canary Wharf office, Property Week, published 7 August 2009, retrieved 7 July 2011
  5. (in French) Façonnable rachetée par M1 Group, Franchise Magazine.com, published 27 July 2007, retrieved 15 July 2011
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