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Monday, 19 October 2020

AluNile eyes stakes in building materials companies in 2021

M&A WATCH- Ezdehar’s Nile Aluminum and Metals Company (AluNile) is eyeing stakes in other building materials companies and could start acquisition talks in early 2021, Ezdehar Managing Director Emad Barsoum told the local press, giving no further details. He added that the company — which manufacturers integrated aluminum and glass systems — is currently deciding between Sixth of October and Sadat City for the location of its new EGP 50 mn factory.

Background: Ezdehar acquired an undisclosed stake in AluNile in 2017 before offloading a 30% stake to Kuwaiti investment holding company Ekuity in 2019. At the time, Ekuity CEO Adnan Al Sager said he anticipated scaling up AluNile through geographic expansion and growing its portfolio of products and services. Ezdehar, which plans to launch a new USD 200 mn fund by the end of 2020, has been looking to exit several of its investments over the next six months.

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