– Electra Investment Holding acquires a 20% stake in Elsewedy Electric through the purchase of 427.7 million shares, valued at USD 449.1 million.

– The acquisition aligns with Electra’s targeted ownership range of 15-24.5%, set in their voluntary offer earlier this year.

– Advisors EFG Hermes and MHR & Partners with White & Case facilitated the transaction, while Elsewedy Electric was advised by BDO Keys Financial Consulting.

Electra Investment Holding is set to acquire a significant 20% stake in Elsewedy Electric, following successful buy orders totaling 427.7 million shares, valued at approximately USD 449.1 million.

This transaction falls within Electra’s targeted ownership range, as outlined in their voluntary offer earlier this year, aiming for between 15% and 24.5% of the company.

The purchase price of USD 1.05 per share equates to EGP 50.33 at the prevailing exchange rate, against Elsewedy Electric’s fair value of EGP 52.38 per share.

Advisors involved include EFG Hermes and MHR & Partners with White & Case representing Electra, while BDO Keys Financial Consulting advised Elsewedy Electric.

Despite this significant development, Elsewedy Electric‘s share price saw marginal movement, closing slightly lower at EGP 47.54.The Elsewedy family retains majority ownership of Elsewedy Electric, holding more than 76% of the company’s shares.