Amman, March 2010 — The Higher Committee to Facilitate Access to Finance appointed Ernst & Young to provide financial advisory and structuring services for the merger between the Jordan Mortgage Refinance Company and the Jordan Loan Guarantee Corporation. The decision came as part of the Committee’s recommendations that were recently approved by the Jordanian Cabinet of Ministers.
The Higher Committee, chaired by His Excellency Mr. Faris Sharaf recommended the merger of the two companies with the aim of expanding the objectives of the two companies and increasing the capital base of the merged entity.
Ernst & Young’s role as financial advisor for this merger will include reviewing the companies’ financial situation over the past five years, compiling five-year financial models for the coming years, valuating both companies, the drafting of a merger agreement, in addition to a number of other tasks.
Commenting on the appointment, Bishr Ibrahim Baker, Managing Partner at Ernst & Young Jordan, said: “We are extremely proud of the confidence that has been placed in us by the Higher Committee, and we look forward to providing our support to the Higher Committee in achieving the objectives behind the merger in the long term and enhancing the efficiency of both companies towards achieving their developmental objectives.”.

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