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Tuesday, 29 August 2017

EFG Hermes confirms it advised on TBS, Intro Investments transaction

M&A WATCH- EFG Hermes confirmed it acted as the “sole financial advisor for the shareholders of Native Markets,” which owns the TBS and Four Fat Ladies brands, on a transaction that resulted in a ‘partnership’ between Native Markets and the Abbas family’s Intro Investments Holding. EFG Hermes did not provide any details on the transaction, news of which broke on Sunday, but said the partnership “will see Native Markets accelerate its growth plans, in terms of both store rollout and manufacturing capability. Both parties are keen to capitalize on the new partnership to further develop Native Markets’ position as a leading local F&B retailer and producer.” EFG has advised on ten transactions with an aggregate value of USD 870 mn in the first half of 2017. Al Tamimi Law Office acted as legal advisor. Analysts told Al Mal they expect the market to respond positively to the partnership and see activity in the food and beverages sector increasing as a result.

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