Finance

Egypt: Sale of BariQ finally completed at $36 million

Egypt: Sale of BariQ finally completed at $36 million
Wednesday, 27 October 2021 16:43

Egyptian investment holding company Raya has completed the sale of its subsidiary BariQ, two years after the deal was announced. The transaction is part of the company’s strategy to exit assets that have become non-core.  

Raya sold 6.5 million shares in BariQ for EGP496 million plus an additional EGP75 million, corresponding to a debt waiver, which makes a total of EGP571 million ($36.3 million). The shares in BariQ held by Raya Holding (98.76% stake) and its subsidiaries (1.24% stake) were sold to Intro for Waste Management and Material Recovery, a subsidiary of Intro Investment Holding. Raya now plans to focus on its core activities to achieve higher value for its shareholders.

"This deal allows us to meet our overall strategic goals and investment strategies. It will enable us to continue our efforts to maximize shareholder value. We will continue to focus on our core business segments and we plan to expand in the future,” said Medhat Khalil, Chairman of Raya Holding for Financial Investments.

Let's note that this deal marks the company's exit from the plastics recycling industry in Egypt.

Chamberline Moko 

On the same topic
Ivory Coast–based NSIA Group created its own reinsurance company, Manzi Re, after receiving regulatory approval from the CRCA. NSIA appointed former...
Governments plan to raise CFA3,908.5 billion on the BEAC public securities market The total is down from CFA5,272.8 billion mobilized between...
Somalia is shifting from crisis management to policy-led reconstruction under IMF-backed reforms. Fiscal discipline and institutional rebuilding...
DR Congo launches FOREC, activating long-dormant economic regulation fund Fund to monitor markets, stabilise prices, protect household purchasing...
Most Read
01

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
02

African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian b...

Africa’s Billionaires Post Strong Gains as Global Wealth Hits Record
03

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
04

Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $...

Flutterwave Adds Open Banking With Mono Acquisition
05

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.