Hussein Shukry, Chairman of Egypt’s brokerage HC said his company is currently providing financial advisory on between six to eight acquisition deals in the local market, most of which are for foreign and Arab investors, during 2015 at a value exceeding $1 billion.

“We are already active as financial advisor for several clients that carry out acquisitions in Egypt,” Shukry told Reuters, “Since 2011 till the end of 2014, we carried out takeover deals for our clients at a value reaching $670 million.”

Takeover activity has stalled in Egypt during the last three years due to political and economic turmoil. However, it has witnessed a strong recovery during the second half of 2014.

According to data compiled by Mubasher, five acquisitions were executed in the Egyptian Exchange at a total value of EGP 435 million, compared with two acquisitions worth EGP 28 billion in 2013.

Photo Credit: Arabianeye-Reuters