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EFG-Hermes to manage 2 acquisitions in KSA’s foodstuff sector

EFG-Hermes to manage 2 acquisitions in KSA’s foodstuff sector
Photo Credit: Arabianeye - Reuters
EFG Holding
HRHO
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By Amr Adel

Dubai – Mubasher: EFG-Hermes is targeting the management of two takeover deals in Saudi Arabia’s foodstuff sector, Mohamed Fahmy, investment director at EFG-Hermes, said on Monday.

Speaking to reporters during a conference held in Dubai, the official added that his company would start promoting the two transactions by mid-April.

The group also seeks to finalise a private placement in the Saudi market during the first half of this year, according to the official.

Fahmy also said the decline in oil prices weighed on investment confidence in new subscriptions in the Saudi market, adding that the IPO market this year would not be the same as last year.

EFG-Hermes currently operates in Egypt, Saudi Arabia, UAE, Kuwait, Jordan, Lebanon, Oman and Qatar.

Translated by Sayed Abdel Rahman