EFG Hermes, the investment bank franchise in Frontier and Emerging Markets (FEM), announced that its investment banking division successfully completed the advisory and execution of the acquisition of the 55 percent stake of Vodafone Egypt to South African Vodacom Group.
The transaction saw Vodacom Group acquiring from Vodafone Group 55 percent of Vodafone Egypt in exchange for cash consideration of 577 million euros and 241,976,243 new shares in Vodacom Group. EFG Hermes acted as the sole Egyptian financial advisor and corporate broker for the transaction.
African telecom operator Vodafone Egypt is a mobile network operator in Egypt, offering a range of integrated telecommunications services including voice, data, and mobile money services to 43 million consumer and enterprise customers.
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Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes’ Investment Banking division, said: “The transaction marks one of the largest M&A transactions ever in Egypt’s history and one of the largest M&As in MENA this year, and follows a strong year for our advisory practice leading several regional and local M&A, equity, and debt transactions”.
This transaction capitalizes on the Firm’s M&A expertise in the telecom sector in the past decade as well as the regional M&A advisory of the Company, having advised on several assignments in Egypt and the GCC in 2022, including Agthia’s acquisition of Auf Group, the majority stake sale of Al Meswak Dental Clinics the largest dental and dermatology service provider in Saudi Arabia, UAE-based AD Ports’ $140 million acquisition of Egypt’s Transmar International Shipping Company (Transmar) and Transcargo International (TCI), and our advisory to the Public Investment Fund of Saudi Arabia (PIF) on the acquisition of a minority stake in B.Tech.