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Sunday, 5 November 2017

SPE says it saw 3x returns from Orchidia

M&A WATCH- SPE Capital, formerly Swicorp Private Equity, announced that during its investment period in Orchidia, the company’s revenues have increased more than four-fold, according to an emailed statement. On Thursday, the Egyptian American Enterprise Fund (EAEF)’s investment manager Lorax Capital Partners announced it will subscribe in an upcoming capital increase along with Orchidia founder Ossama Abbass and will also be acquiring Orchidia shares held by SPE Capital as well as a stake owned by other minority shareholders. Mehdi Charfi, Partner at SPE said, “We are no less proud of the significant value created to our investors as we return three times the amount invested in USD, in an environment that has proven to be difficult and volatile.” SPE says Arqaam Capital acted as sole sell-side financial advisor on the transaction and Matouk Bassiouny acted as legal counsel. Matouk Bassiouny says its role also included “advising on and assisting in the negotiation of the share purchase agreement and the complimentary transaction documents.”

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