[ad_1]
EFG Hermes, a leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that its investment banking arm has successfully completed its advisory (Transmar) on AD Ports’ acquisition of a 70% stake in Transmar International Shipping, two Egyptian shipping and terminal operating companies and Transcargo International (TCI) for a total purchase consideration (enterprise value) of $140 million.
EFG Hermes acted as sole sell-side financial advisor to Transmar and TCI shareholders, and White & Case acted as legal advisor.
Founded in 1979 by pioneer Mostafa El Ahwal and managed by the El Ahwal family, Transmar and TCI have grown to become a key part of the maritime industry in Egypt and the entire region. The sister company has an extensive track record of over 4 years focusing on container shipping, liner operations, terminal handling operations, handling and warehousing, domestic transportation, integrated logistics and more. Following the closing of the transaction, the El Ahwal family and its executive team will continue to manage both companies.
The buyer to this transaction was established in 2006 by UAE-based AD Ports. Today, it is one of the major companies operating in the logistics and trade sector in the region. AD Ports utilizes more than 10 ports and terminals in the region and operates in port operations, industrial cities, free zone maritime services and logistics operations. In February 2022, the company was listed on the Abu Dhabi Stock Exchange with a market capitalization of US$7 billion as of September 11, 2022.
Commenting on the transaction, Mostafa Gad, Co-Head of Investment Banking at EFG Hermes, said: “We are very proud to be advisors on this high profile transaction between Transmar/TCI and AD Ports as we continue to bring our clients Come one step closer to achieving their commercial goals. This acquisition marks an important milestone for the Egyptian logistics industry, which continues to gain significant traction on a regional and global scale. We believe that AD Ports, through its first overseas acquisition The entry of well-known brands Transmar and TCI into the Egyptian market will not only help AD Ports embark on a path of expansion, but will further connect Egypt to more global value chains. Transmar and TCI have a strong presence in connecting the region’s economy and through extensive presence It plays an undeniable role in promoting regional trade.”
Transmar is a leading private container shipping company founded by the El Ahwal family. The company operates mainly in the Red Sea region and specializes in container shipping. A well-known business with more than 40 years of history, the company has a portfolio of clients from companies in the petrochemical, FMCG, construction, electronics and other industries.
Transcargo International (TCI) is a terminal handling operator based in the strategic Red Sea port of Adabiya. The company focuses on port operations, container handling, and bulk and general cargo.
EFG Hermes continues to maintain its leading position in the market with its unrivalled record of advising on the most prominent and high profile transactions in the region. During the first eight months of 2022, the investment banking team completed advising on a number of M&A transactions, including advising Auf Group, a leading manufacturer and retailer of healthy snacks and coffee, on the sale of a majority stake to UAE-based Agthia, Agthia is one of the leading food and beverage companies in the region. EFG Hermes also acted as sell-side advisor in the sale of a majority stake in Al Meswak Dental Clinic, the largest provider of dental and dermatology services in Saudi Arabia. Last year, the unit successfully completed 13 M&A transactions worth a total of US$2.4 billion, including Agthia’s acquisitions of Al Faysal Bakery and Sweets and Atyab. In 2021, the unit also completed its first transaction in Pakistan, advising US private equity platform TPG on the sale of a 50% stake in Base Consultancy FZ, the holding company of Pakistani diagnostics provider Islamabad Diagnostic Center (IDC).
Source: EFG Hermes Holdings
[ad_2]
Source link