Hermes: 9 million acquisition of Electra stake in El Sewedy

EFG Hermes announced that its Investment Banking division has successfully completed advisory services for Electra Investment Holding’s acquisition of a 19.98% stake in Elsewedy Electric, in a deal valued at approximately $449 million. EFG Hermes acted as the sole financial advisor for Electra Investment Holding on the deal.

Under this deal, Electra Investment Holding submitted an optional purchase offer to acquire a 24.5% stake in El Sewedy Electric at a value of $1.05 per share, which was successfully responded to and resulted in Electra acquiring 19.98% of El Sewedy Electric’s total shares, joining the largest deals that EFG Hermes has successfully completed this year.

Maged El-Ayouti, Co-Head of Investment Banking at EFG Hermes, expressed his pride in EFG Hermes’ success in completing this deal, which is one of the largest foreign direct investment deals in the field of mergers and acquisitions in the Egyptian market and the region during the current year. It is an extension of a group of the most prominent deals that the company has successfully completed in regional markets over the past nine months, with a total value exceeding $2.4 billion, which included the acquisition deal of “Icon”, the hotel arm of Talaat Moustafa Group Holding, of 7 historical hotels in Egypt, the capital increase deal in “Icon” for the benefit of ADQ Holding and ADNIC Group, as well as the acquisition deal of Global Investment Holding of a 30% stake in Eastern Company for Tobacco.

By Editor

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