13 October 2015
Al Bayan Group of Companies, a diversified business group in the UAE with interests across healthcare, F&B retail, beverages and engineering industries, is selling its 100 per cent equity stake in Al Bayan Purification and Potable Water LLC, UAE, Shaklan Plastic Manufacturing Co LLC, UAE and Al Manal Purification & Bottling of Mineral Water LLC, Oman to Agthia Group PJSC, one of the UAE's leading food and beverage companies. Alpen Capital, Dubai acted as the sole financial adviser to Al Bayan Group.
"The Al Bayan Group has grown strong in the last few years and has diversified business interests. The move to sell our water business across UAE and Oman, is an integral part of our business strategy as it will help focus our efforts towards growing our retail and hospitality businesses. We are pleased that our water business will thrive under the ownership of the Agthia Group. I also would like to thank the team at Alpen Capital, our financial advisers who not only helped us identify a suitable buyer but also structured and seamlessly executed the transaction," said A K Mansoor, Chairman & Managing Director, Al Bayan Group of Companies.
"We are very excited to merge our strengths with those of Al Bayan. As a major player in the 5 gallon bottled water segment in the UAE, Al Bayan is an excellent strategic fit for Agthia, further consolidating our leading position in the UAE water market. Al Bayan's manufacturing capabilities in the Northern Emirates and Oman with an established brand and sales and distribution infrastructure, coupled with Agthia's manufacturing expertise, sales and marketing knowledge, and its iconic brands, will help unlock the growth potential of the combined business," added Iqbal Hamzah, Group CEO, Agthia Group.
"This strategic investment by Agthia Group into Al Bayan is testimony to the potential opportunities that exist in the GCC for corporations and investors. We are happy to add value to this transaction using our extensive regional experience and expertise in the food and retail sectors," stated Sanjay Vig, Managing Director, Alpen Capital (ME) Limited.
Al Bayan Group of Companies, a diversified business group in the UAE with interests across healthcare, F&B retail, beverages and engineering industries, is selling its 100 per cent equity stake in Al Bayan Purification and Potable Water LLC, UAE, Shaklan Plastic Manufacturing Co LLC, UAE and Al Manal Purification & Bottling of Mineral Water LLC, Oman to Agthia Group PJSC, one of the UAE's leading food and beverage companies. Alpen Capital, Dubai acted as the sole financial adviser to Al Bayan Group.
"The Al Bayan Group has grown strong in the last few years and has diversified business interests. The move to sell our water business across UAE and Oman, is an integral part of our business strategy as it will help focus our efforts towards growing our retail and hospitality businesses. We are pleased that our water business will thrive under the ownership of the Agthia Group. I also would like to thank the team at Alpen Capital, our financial advisers who not only helped us identify a suitable buyer but also structured and seamlessly executed the transaction," said A K Mansoor, Chairman & Managing Director, Al Bayan Group of Companies.
"We are very excited to merge our strengths with those of Al Bayan. As a major player in the 5 gallon bottled water segment in the UAE, Al Bayan is an excellent strategic fit for Agthia, further consolidating our leading position in the UAE water market. Al Bayan's manufacturing capabilities in the Northern Emirates and Oman with an established brand and sales and distribution infrastructure, coupled with Agthia's manufacturing expertise, sales and marketing knowledge, and its iconic brands, will help unlock the growth potential of the combined business," added Iqbal Hamzah, Group CEO, Agthia Group.
"This strategic investment by Agthia Group into Al Bayan is testimony to the potential opportunities that exist in the GCC for corporations and investors. We are happy to add value to this transaction using our extensive regional experience and expertise in the food and retail sectors," stated Sanjay Vig, Managing Director, Alpen Capital (ME) Limited.
© Oman Daily Observer 2015
