Cairo – Mubasher: Helios Investment Partners (Helios) and the Egyptian-American Enterprise Fund (EAEF) announced the acquisition of a 96.7% stake in Misr Hytech Seed International (Misr Hytech).  

EAEF stressed on “the great potential of this investment in contributing to the betterment of the Egyptian agricultural landscape,” chairman of EAEF, James Harmon, said in a statement on Monday.

The value of the deal wasn’t disclosed.

“The achievement of the previous shareholders and excellent management team has strategically positioned Misr Hytech as a leader and pioneer in the Egyptian corn and sorghum market,” Harmon added.

With its strong base in Egypt, Misr Hytech, Africa-focused private investment firm, has become a leading seed company in Africa, founder of Misr Hytech, Suri Sehgal, noted.