Cairo: – Pharos Investment Banking (“Pharos”), announces the signature of the Share Purchase Agreement (“SPA”) for the sale of a majority stake of 62.30% in Ostool Transport & Logistics (“Ostool”) to Paradigm Logistics LLC (“Paradigm”) for EGP 266,559,807. Pharos acted as the exclusive sell-side advisor to the selling shareholders of Ostool, Raya Holding for Financial Investments (“Raya”).
Ostool is one of the leading transportation and logistics players in the Egyptian market, with a large fleet of over 245 trucks providing logistical services to several industries within the Egyptian market. The company has achieved robust growth over the past years in terms of expansion in fleet size, diversified revenue streams as well as financial performance; positioning it as an attractive investment opportunity for a wide range of investors.
Pharos also announces the signature of the Share Purchase Agreement (“SPA”) for the sale of 100% of the share capital of Bariq for Technology & Advanced Industries (“BariQ”) to Intro Group’s, Intro Waste Management and Material Recovery Holding(“Intro”), for a consideration of EGP 490,750,000. Pharos acted as the exclusive sell-side advisor to the selling shareholders of BariQ, Raya.
BariQ was established in 2010 to become the largest bottle-to-bottle manufacturer of recycled PET plastic in Egypt and MEA region. BariQ recycles post-consumer plastic PET bottles into food grade FDA, EFSA, Health Canada and REACH compliant PET pellets; BariQ has managed to recycle over 10 billion bottles over the past 7 years.
In addition to the above two transactions, Pharos announces the completion of the sale of a minority stake in Aman Technology for Non-Banking Financial Services and Electronic Payments (“Aman”) in form of the sale of primary and secondary shares to the National Bank of Egypt (“NBE”) for a total consideration of EGP 537 million. Pharos acted as the exclusive sell-side advisor to the selling shareholders of Aman, Raya.
Aman, is a fully-fledged non-banking financial services group, offering an array of enabling solutions as a part of the Government’s financial inclusion initiatives across Egypt. The Group was founded with a total paid-in capital of EGP 375 million establishing 3 subsidiaries: E-Payments, Consumer Finance, and Microfinance.
“I am delighted to witness the final signing of Ostool, Bariq and Aman SPAs which solidifies Pharos Investment Banking’s capabilities and growing presence in the M&A market in Egypt.” stated Mr. Ahmed
Heider, CEO of Pharos Investment Banking. We started to notice the investors positive sentiment and growing appetite to invest in Egypt, in sectors that offers growth and resilience, and we’re very positive on the performance of the Egyptian Market despite COVID-19.”, added Mr. Heider.
“These transactions manifest the increasingly positive outlook of the Egyptian market driven by the recent economic reform program executed by the government over the past years. We are delighted to see investors move forward with their investment plans in such challenging global market conditions post the corona pandemic.” stated Mr. Mohsen Abou El Nour, Executive Director of Pharos Investment Banking.
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About Pharos Investment Banking:
Pharos Investment Banking, headquartered in Cairo, was founded in 2005 as a progressive 360 degrees financial services platform, with leading investment banking, brokerage, research, asset management and custody divisions.
In 2020 Al Ahly Capital Holding, the investment arm of the National Bank of Egypt, acquired Pharos Investment Banking and Pharos Brokerage as a part of the corporate strategy of expanding in creating a full- fledged investment bank including financial advisory, brokerage, asset management and research in addition to a non-banking financial services’ provider across micro finance, electronic payments, consumer finance, etc…
© Press Release 2021
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