iPhone | iPad
Android
Huawei
The bid is part of its ambitious turnaround strategy
KT APPDOWNLOAD
EFG Hermes closes another successful M&A deal in Egypt
The transaction follows several M&A deals the Firm advised on in the region this year, reinforcing its position as the leading M&A house in the region
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), on Wednesday announced that its Investment Banking division successfully closed on the sale of a 60 per cent stake in Auf Group to leading Emirati food company Agthia.
EFG Hermes acted as sole sell-side financial advisor to Auf Group on the transaction.
The deal allows Auf Group to benefit from Agthia’s regional platform in the GCC with respect to its geographic expansion plan, while at the same time expanding its capabilities in the high growing Egyptian food and beverage market. Following the transaction, the company’s three founders will retain a combined 30 per cent stake and Tanmiya Capital Ventures (TCV) a 10 per cent stake.
“We are incredibly proud to have been part of this notable transaction for Auf Group — a renowned fast-growing Egyptian brand. Over the cycle, investors’ appetite to pursue high-growth investment opportunities that are value accretive continues to remain intact," Maged El Ayouti, managing director and deputy head of EFG Hermes’ Investment Banking division, said.
We are pleased to have contributed to this homegrown brand’s exceptional growth story and taking it to a new chapter as we work to continue attracting global capital to compelling local opportunities,” he said.
The local food and beverages industry boasts strong fundamentals with a substantial consumer base and considerable growth, making homegrown super brands such as Auf Group attractive for global investors looking for sustainable high returns.
— business@khaleejtimes.com
More news from Business
Resorts World One seeks to boost inbound and outbound cruise travel in Dubai and across the Gulf
First restaurant to open with an investment of Dh5 million in Dubai
Labour has been consulting investors about closing a tax break on carried interest ahead of a wider budget announcement in October
Interior design is about creating spaces that enhance human well-being
Hotel occupancy rates at 80% were the highest in the region
GCC banks have consistently maintained a higher return on equity
FCA asks senior leaders to take personal responsibility for ensuring rules have been complied with