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(adsbygoogle = window.adsbygoogle || []).push({}); Algeria's Richest Man Issad Rebrab Acquires Newspaper Publisher - Algeria latest news

Issad Rebrab, Algeria’s richest man, has reportedly acquired El Khabar media group, one of the country’s largest media conglomerates, for $45 million.

El Khabar media group is the publisher of El Khabar newspaper, one of the highest circulating newspapers in Algeria. El Khabar newspaper was founded in 1990 by a small group of Algerian journalists and sells more than 300,000 copies everyday. The company also owns a television channel, a printing press and a distribution firm.

This is Rebrab’s second investment in a media company. The billionaire sugar baron already owns the French-language Algerian daily Liberte.

Rebrab, 72, has a current net worth of $3.3 billion according to FORBES. He is the founder of Cevital, Algeria’s largest private company. Cevital has business interests in electronics and steel, but it is particularly big in sugar. The company owns one of the largest sugar refineries in the world, with an annual output of 1.5 million tons; it also produces vegetable oil and margarine.

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