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Monday, 28 August 2017

EuroMena to sell stake in three Egyptian companies as part of shifting regional strategy

PE WATCH- EuroMena to sell stake in three Egyptian companies as part of shifting regional strategy: Lebanese private equity firm EuroMena Funds is preparing to exit its stakes in three Egyptian companies from its EuroMena I Fund as part of its strategy to shift its focus to Lebanon as well as Africa-based companies with ties to the Lebanese diaspora, Bloomberg reports. The firm is divesting from printing and packaging company Wataniya, software developer ITWORX and food producer Wadi Holdings SAE. EuroMena sees it can “make a decent return in USD” by exiting the investments this year, said Managing Partner Romen Mathieu. The firm had announced last year it was planning to invest USD 30 mn in Egypt in the next four years as part of its EuroMena III Fund.

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