Finance

Egypt: Sale of BariQ finally completed at $36 million

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

(Ecofin Agency) - 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 



 
Telecom


 
Public Management


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

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

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.