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Thursday, 15 March 2018

Ezdehar Egypt, NBK Capital bidding for controlling stake in Misr Cafe?

M&A WATCH- Ezdehar Egypt, NBK Capital bidding for controlling stake in Misr Cafe? Our friends at Ezdehar Egypt Mid-Cap Fund and NBK Capital Partners are said to be bidding to acquire a controlling stake in instant coffee maker Misr Cafe, sources close to the matter tell Al Mal. Talks are at an early stage and Misr Cafe has received other acquisition offers from local and Gulf firms, according to the sources. The bid comes after Ezdehar Managing Partner Emad Barsoum had said earlier this month that the fund is closing in on a USD 50 mn acquisition of an unnamed industrial company. Arqaam Capital is acting as sell-side advisor, while Matouk Bassiouny is legal counsel to NBK. Misr Cafe, which was established in 1984, was delisted from the EGX in 2007. Abraaj Capital had considered acquiring a controlling stake in the company in 2015, but talks had halted the following year.

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