The Firm acts as Sole Sell-Side Financial Advisor to Egypt's Paradise Capital for Financial Investment on the sale of its 52% stake in Olympic Group for Financial Investments to Sweden's Electrolux Group, Europe's largest manufacturer of household appliances.
Cairo -- EFG Hermes, the leading investment bank in the Arab world, announced today that it has acted as sole sell-side financial advisor to top Egyptian investment firm Paradise Capital for Financial Investment on the sale of its 52% stake in Olympic Group for Financial Investments to Sweden's Electrolux Group, the world's second-largest appliance maker. The deal values Olympic Group at USD 410 million.
The Olympic Group acquisition is the first sizeable foreign direct investment in Egypt following the January 25th Revolution and represents a strong vote of confidence in the Egyptian economy at a significant moment in Egypt's modern history. EFG Hermes is proud to have played an effective role in such a transaction that signifies the conviction of a globally renowned strategic player in Egypt's business environment.
The transaction marks EFG Hermes Investment Banking's third M&A transaction in the past 6 months, in three different markets, bringing EFG Hermes' M&A executions in 2011 alone to USD 27.4 billion (enterprise value).
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About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world. The Firm specializes in Securities Brokerage, Investment Banking, Asset Management, Private Equity and Research. EFG Hermes is listed on both the Egyptian and London stock exchanges. The recent acquisition of a 65% stake in Credit Libanais marks the first step towards EFG Hermes's transformation into a universal bank and will enable it to rapidly expand into retail and commercial banking.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria and the UAE, with 1,060 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.
For further information about EFG Hermes, please visit www.efghermes.com.
For further information, please contact:
Heba El-Hamzawy
Public Relations Manager
EFG Hermes Holding SAE
helhamzawy@EFG-Hermes.com
T: 00 20 2 3331 8255
F: 00 20 2 3338 3616
M: 00 20 16 550 979
© Press Release 2011
