Cairo, Egypt – Prime Holding has announced today that it has successfully managed the sale of International Tobacco, an Americana Egypt subsidiary and owner of the brand “ElHennawi Tobacco” to ElSaidy Tobacco. Prime acted as the seller’s exclusive financial advisor and executed the transaction on the Egyptian Exchange.
Al Saidy Tobacco’s Chairman and CEO, Hamada El-Far expressed his excitement about the deal. “This deal represents a strong addition to our company. International Tobacco has a solid business model and strong capabilities in the production and distribution of its wide product range, which meets the diverse customer tastes. We look forward to creating synergies capitalizing on International Tobacco’s portfolio and capabilities with our operation to create value in the coming period.”
El-Far also congratulated Prime on its role in concluding the acquisition with a high level of professionalism and expertise. Prime has brought the two parties closer, and smoothly finalized the transaction.
Shireen Al Kady, Executive Chairman of Prime Holding commented, “This transaction reflects the commitment of Prime’s teams and their high level of experience and professionalism, especially our teams at Prime Securities and Prime Capital in this particular deal,” he says. “Challenging the status quo has been and remains our mode of operation to offer unconditional commitment to our clients.”
Hussein Abdel Halim, CEO of Prime Capital assured that Prime always strives to offer the best value for its clients. “This acquisition is yet another landmark in the company’s track record in mergers and acquisition and is in line with our strategy to fortify our strong presence, especially when it comes to defensive industries. We look forward to more successful transactions before the end of the year.”
About AlSaidy Tobacco (https://www.alsaidytobacco.com/about)
About Americana Egypt (https://americana-group.com/
About Prime Holding: Prime Holdings is a regional investment bank subject to the supervision of the Egyptian Financial Supervisory Authority. It provides innovative and integrated financial services to companies, institutions, governments and individuals. Its activities cover a wide range of services, including investment banking, asset management, brokerage, research, and private equity. Prime Holding has been listed on the Egyptian Stock Exchange since 2008. For more details, please visit the Prime Holding website: www.primegroup.org.
© Press Release 2020
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