June 2018 - Cairo , Egypt
Pharos Holding, announces the successful sale of 100% of the share capital of National Company for Paper Products (NPP) to Mondi Group, for a total consideration of EGP 510 million (c. USD 29 million) representing 100% of the share capital of NPP.
NPP is a leading provider of Kraft paper bag packaging to the building materials industry; and was the largest locally-owned producer of Kraft paper bag packaging.
This transaction highlights Egypt’s attractive local market dynamics, strong regional competitiveness, and wide geographic reach, which has culminated to its current position as a doorway to Africa and the MENA region. “Investor sentiment towards Egypt is turning positive and continues to improve as Egypt reaps the benefits of its economic reforms” stated Mr. Aladdin El-Afifi, Managing Director and Co-CEO at Pharos Holding.
“I am very happy to witness the final closure of the NPP transaction which underscores Pharos Investment Banking’s growing presence in the M&A transactions’ arena. We remain confident of the Egyptian market and our ability to continue to support our clients achieve their long term strategic objectives” stated Ms. Noha El-Ghazaly, Managing Director and Head of Pharos Investment Banking.
Pharos Securities Brokerage was the broker for the deal on behalf of the shareholders of NPP; Al Tamimi and Co. were the legal advisors.