Pharos Holding for Financial Investments announced the successful closing of the sale of 100% Halayeb Company for Dairy and Juice Products SAE (Halayeb) shares to the French-based dairy, Danone.
It was mandated the sell-side financial advisor to the shareholders of Halayeb, according to Pharos press statement on Tuesday.
Founder and Chairman of Pharos Holding Mohamed Taymour said the transaction further solidifies the attractiveness of the Egyptian dairy sector, driven by Egypt’s large population.
Managing Director and Head of Investment Banking of Pharos Holding Sherif Abdel Aal said this is the third transaction in the dairy sector over in less than 12 months that Pharos successfully closes. It finalised the sale of Arab Dairy in March 2015 and El-Misrieen in December 2015.
Pharos Brokerage was the broker for the transaction and Shalakany Law Office was the legal advisor to the sellers.