Egyptian Competition Authority approves 7 major acquisition deals

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Egypt - The Egyptian Competition Authority (ECA) has approved seven significant acquisition deals, allowing domestic and international companies to invest in various local sectors, as per a statement.

Among the notable transactions, the acquisition of the Abu Dhabi Developmental Holding Company (ADQ) to a 25% stake in the Egyptian Drilling Co (EDC), a 30% stake in the Egyptian Ethylene and Derivatives Company (ETHYDCO), and 35% of the Egyptian Linear Alkyl Benzene Company (ELAB).

Moreover, the ECA endorsed Tanmia Capital Ventures 2 Investment Fund’s acquisition to a 20.87% stake in El Abd Company for Patisserie Investment, Manufacturing, and Trading.

In the technology sector, Hewlett Packard Enterprise will fully own Juniper Networks Inc.

Similarly, Endeavouer Group LLC is set to acquire 100% of Golden State Foods Corporation.

In another key acquisition, a company will take over a 50% stake in the Egyptian Gypsum Company.