Wadi Group further in private hands
Freiji, Nasrallah and Horus Private Equity Fund in Egypt have increased their share in Wadi Group to 95%.
The Freiji and Nasrallah families, in collaboration with Horus Food and Agribusiness Ltd, recently purchased a 10% stake in Wadi Group from Commercial International Investment Company (CIIC).
The deal, worth LE250m (app. €29.8m) , increases the Wadi Group shares owned by both families and Horus Food and Agribusiness to exceed 94%, up from the previous 84%.
"The main driver for this deal was the medium to long term goals and growth that we are targeting at Wadi Group," commented Musa Freiji, President and Chairman of Wadi Group.
"The acquisition of the shares from CIIC is a major step for Wadi Group, especially in supporting our future expansions plans for new projects and factories, as well as our overall business plan in Egypt.”
Following the acquisition deal, the ownership structure of Wadi Group is as follows: Freiji/Nasrallah families 88.90%, Horus Food and Agribusiness Ltd. 5.90%, and Europro Holdings (run by the Lebanese Company Capital Trust) 5.20%.
Wadi Group is one of the largest industrial groups engaged in a multitude of businesses that fall under two main categories: agri-business and industry.
Each category includes a number of sub-activities that are related to agriculture, agri-production, poultry, feed, and manufacturing, which includes the production of glass containers, industrial cooling cell pads, feed additives, fertilizers, and logistics.
