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Monday, 3 June 2019

Helios, EAEF acquire 96.7% stake in Misr Hytech

M&A WATCH- Helios, EAEF acquire 96.7% of Misr Hytech: Helios Investment Partners and the Egyptian-American Enterprise Fund (EAEF) have acquired a 96.7% stake in Misr Hytech, according to a statement. The acquisition was made through investment manager Lorax Capital Partners. “We are very excited about the great potential of this investment in contributing to the betterment of the Egyptian agricultural landscape,” James Harmon, chairman of the EAEF, said. “The achievement of the previous shareholders and excellent management team has strategically positioned Misr Hytech as a leader and pioneer in the Egyptian corn and sorghum market.” The EAEF had been looking to acquire a majority stake in the company since March 2018.

Misr Hytech is one of the largest seed suppliers in the Middle East and Africa, producing hybrid white corn, yellow corn, grain and fodder sorghum, sweet corn, and vegetable seeds. Corn is one of the most widely consumed crops in Africa.

Advisors: Matouk Bassiouny and Norton Rose Fulbright acted as the primary legal advisors, and DLA Piper was the intellectual property advisor. The selling shareholders received legal counsel from Nyemaster Law Firm and Al Tamimi & Company; Gulfstone Capital was sell-side financial advisor.

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