Bahraini banking group targets 8 acquisition deals in 2016

GMT 14:47 2015 Tuesday ,08 December

Arab Today, arab today Bahraini banking group targets 8 acquisition deals in 2016

Group managing director Omar al-Maghawry
Cairo - MENA

First Equity Partners, a Bahraini-based company offering investment banking and advisory services, aims to complete eight acquisition deals in 2016 in the fields of food, industry, construction and communications, Group Managing Director Omar al Maghawry said.

Speaking to MENA, Maghawry said the group has allotted EGP 500 million to invest them in the Egyptian market in 2016.

The group had completed the acquisition of two Egyptian companies working in the food and agriculture fields with the deals worth EGP 40 million, he said.

The group had acquired 55% of the shares of the Suez Canal Trade and Agricultural Development, which was established in 1981 and has a 10% share of the seeds market in Egypt.

It also bought 54.2% of the shares of NOG Investment Company specialized in catering, food services and restaurants, Maghawry said.

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