Expedition Investments consortium completes acquisition into Domty
Expedition Investment consortium (the “Consortium”) has successfully completed the Mandatory Tender Offer (“MTO”) of a minority stake (32.9%) in of Arabian Food Industries Co. (“Domty”).
The Consortium acquired 97% of the offered shares (96.2 million shares) at a revised price of EGP 5.50 per share. The offer worth was about EGP512 million (USD26.5 million).
Matouk Bassiouny & Hennawy (“MBH”) acted as the legal counsel to Expedition Investment consortium on this transaction. The MBH team advising was led by Mohamed Abdel Fattah (partner and head of capital markets, pictured) and further included Mohamed Galal (senior associate) and Khaled Abdel Wahab (senior associate), Tamer El Hennawy (partner and co-head of capital markets and corporate and m&a) and Samih Talaat (counsel).
EFG Hermes acted as the broker to the Consortium.