Mubasher TV
Contact Us Advertising   العربية

EFG-Hermes advises B.TECH on EGP 300m partnership

EFG-Hermes advises B.TECH on EGP 300m partnership
EFG - Hermes (Photo Credit: Reuters Arabia)
EFG Holding
HRHO
-1.10% 17.90 -0.20

Cairo – Mubasher: EFG-Hermes Holding said it was mandated by B.TECH to advise on its strategic partnership with DPI, a leading African private equity firm.

Per this partnership, DPI is expected to pump investments up to 300 million to finance B.TECH expansion plans, said Moustafa El Chiati, managing director of EFG Hermes UAE.

“Egypt’s competitive advantages will play major role in attracting more foreign investments through next year 2017,” added Chiati.

This is the sixth transaction that EFG Hermes Investment Banking has managed since the beginning of the year. The division’s transactions, valued at approximately $640 million included two IPOs totaling $168 million for dairy-maker Domty and healthcare firm Cleopatra Hospital Company

“The conclusion of this partnership reflects the remarkable work accomplished by B.TECH team and highlights the potential of the company to accelerate its growth in Egypt and Africa,” said Mahmoud Khattab, chairman and CEO of B.TECH.

B.TECH is Egypt’s largest organized retailer and distributor of household appliances and consumer electronics with over 67 stores nationwide and is Egypt’s sole authorized distributor of a number of global brands.