Back to the complete issue
Wednesday, 27 October 2021

BariQ now officially belongs to Intro Group

Raya Holding has completed the EGP 571 mn sale of 100% of its recycling subsidiary BariQ to Intro Group subsidiary Intro Waste Management and Material Recovery, according to a bourse disclosure (pdf). Raya announced initial plans to sell off BariQ in November of last year, which the company said in yesterday’s disclosure is part of a 2019 plan to divest non-core assets and focus investment on the group’s core operations. Raya signed an agreement with Intro Group to sell 100% of BariQ in May of this year.

Advisors: Al Ahly Pharos had sell-side duties, while Compass Capital was buy-side advisor. RSM did buy-side financial and tax due diligence duties. Zaki Hashem and Partners provided counsel on the sell-side and Al Tamimi and Co were buy-side counsel. Al Ahly Pharos Brokerage executed for the sell-side and Beltone Brokerage did the work on the buy-side. CIB was escrow agent for the transaction.

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 HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; 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; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.