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Ekuity Holding acquires 30% stake in AluNile from Ezdehar - Daily News Egypt

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Ekuity Holding acquires 30% stake in AluNile from Ezdehar

Company is on continuous lookout for quality investment opportunities in Egyptian market, says Ekuity CEO


Ekuity Holding – the investment arm of Kuwait Investment Authority in Egypt – announced the acquisition of a 30% stake in the Nile Aluminum and Metals Company (AluNile), from the Ezdehar Egypt Mid-Cap Fund (Ezdehar).

Ekuity CEO Adnan Al Sager explained that Ekuity’s investment in AluNile represents an important milestone in the resurgence of Kuwaiti investments in Egypt, partnering with institutional, financial, and strategic investors, to invest in leading companies with high-growth prospects.

Al Sager added that AluNile’s prospects of growth and expansion in both its product and service portfolios, as well as geographical coverage, presents an opportunity to scale the company and publicly list it in the future.

Ekuity CEO explained that his company is on the continuous lookout for quality investment opportunities in the Egyptian market.

Moreover, Ezdehar’s Managing Director Emad Barsoum embraced Ekuity’s investment as it strengthens the shareholder base of AluNile, and enhances the company’s capabilities as it expands and undertakes major projects in the coming period.

He also expressed his delight at the return of the Kuwaiti Sovereign Fund’s investments in Egypt, which reflects confidence in the rise of the Egyptian economy and the desire to strengthen ties between the two countries.

Also, AluNile Managing Director Ahmed El Guindy said, “We are delighted to have new partners in AluNile’s growth journey, reflecting investor’s confidence in the company’s achievements over the past couple of years and conviction in its continued success. The partnership between Ekuity, Ezdehar, and AluNile’s management team will strengthen the company’s expansion inside and outside of Egypt.”

Al Tamimi & Co., Loyens & Loeff, and PwC acted as advisors for Ekuity in the acquisition, while Ezdehar Management was advised by Van Campen Liem.

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https://dailyfeed.dailynewsegypt.com/2019/11/03/ekuity-holding-acquires-30-stake-in-alunile-from-ezdehar/
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