"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EFG Hermes advises Kazyon on acquiring 50% stake in Dukan
Published in Daily News Egypt on 06 - 02 - 2024

EFG Hermes, the investment banking arm of EFG Holding and the leading investment bank in Frontier and Emerging Markets (FEM), announced today that its Investment Banking division successfully advised Kazyon, a prominent MENA-based discount retailer, on a merger and acquisition (M&A) deal. In this deal, Kazyon acquired a 50% stake in Dukan, the only discount retailer in Saudi Arabia, marking its strategic entry into the Saudi market. Al Dabbagh Group, the existing shareholder of Dukan, retained the remaining 50% stake in the company. White and Case acted as legal counsel for Kazyon.
Karim Galal, Managing Director at EFG Hermes' Investment Banking Division, said, "We are proud to have played a pivotal role in facilitating Kazyon's landmark acquisition of Dukan. This deal aligns seamlessly with our strategic objective of expanding our presence in Saudi Arabia and highlighting the Kingdom's immense investment potential across diverse sectors. This is the second collaboration between EFG Hermes and Kazyon, following EFG Hermes' advisory role in Kazyon's $76.5m capital raise/private placement in 2014. This successful track record is a testament to the longstanding relationship between the two entities. The deal also underscores our trusted capability to lead on transformative transactions, solidifying our position as the premier advisory house of choice in the region."
Dukan is a fast-growing convenience retail grocery company in Saudi Arabia, founded in 2013 by Al-Dabbagh Group. Dukan has a chain of over 100 neighborhood stores across Jeddah, Makkah, and Al Taif, with plans to expand to Riyadh. It offers a full range of discounted basic groceries and a differentiated assortment of private label and exclusive brand products.
Established in 2014, Kazyon has emerged as a distinguished player in the regional discount retail sector, boasting a robust presence with over 1,000 stores in Egypt and Morocco by the end of 2023. Renowned for offering high-value products at competitive rates, Kazyon has successfully catered to millions of customers within its extensive network. This strategic acquisition is a significant milestone in Kazyon's ongoing regional growth endeavors, which included the successful introduction of Kazyon in Morocco in 2023. The expansion into Saudi Arabia represents the next pivotal phase in Kazyon's ambitious growth trajectory.
EFG Hermes continues to sustain its leading position in the market through its unrivaled advisory track record on the region's most prominent, high-profile transactions. The deal is one of the major M&As EFG Hermes has advised on, which also includes Jadwa's sale of a 100% stake in Meswak, worth $500m, Abu Auf's sale of a 60% stake to Agthia, worth $115m, the sale of an 85.5% stake in SODIC to Aldar, worth $388m, and PIF's $150m acquisition of a 33.4% stake in B.TECH. EFG Hermes also advised on seven IPOs in the region in the past year, including a number of landmark offerings in Saudi Arabia. Most recently, EFG Hermes advised on the $1.2bn IPO of ADES Holding Company on the Saudi Exchange, the $378m IPO of Riyadh Cables on the Saudi Exchange, and Lumi Rental Company's $290m IPO on the Saudi Exchange.


Clic here to read the story from its source.