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Sunday, 9 December 2018

Unnamed foreign bank interested to fund Raya MTO

M&A WATCH- Int’l bank may back Medhat Khalil’s take-private bid for Raya: An unnamed international investment bank could finance Medhat Khalil’s bid to take Raya Holding private, Khalil said, according to Masrawy. The bank is one of four financiers Khalil had approached since the Financial Regulatory Authority ordered him last October to mount a mandatory takeover for Raya or sell down his stake. Khalil has previously said he was seeking EGP 700-800 mn in acquisition finance. The news comes after Khalil requested a two-month extension on the 27 November deadline to complete the MTO.

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