Back to the complete issue
Sunday, 11 October 2020

Unnamed Arab sovereign fund eyes Egypt’s Ismailia for Agricultural Investments in potential EGP 3 bn acquisition

M&A WATCH– An unnamed Arab sovereign wealth fund is looking to acquire 75-100% of Ismailia Agricultural and Industrial Investments for as much as EGP 3 bn, the local press reports, citing sources close to the transaction. The fund is reportedly in the midst of due diligence and expects the transaction to go through by the end of the year.

Is there another bidder in the wings? Ismailia, which owns packaged meat and poultry brand Atyab, previously received an offer for a majority stake in its operations from UK investment fund Alta Semper for EGP 2.3 bn.

Look at this through the lens of food security in this time of covid: The domestic press says the Arab SWF is positioning the potential acquisition as a means of increasing Egyptian exports and supporting food security in both countries.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.