Vodacom Group, Vodafone Group’s African subsidiary, has completed its 55% acquisition of Vodafone Egypt.
The transaction saw Vodacom Group acquire from Vodafone Group 55% of Vodafone Egypt in exchange for a cash consideration of EUR 577 million.
Through this acquisition, Vodacom will diversify its portfolio and accelerate its growth profile and Vodafone Egypt will accelerate its growth in financial services and the Internet of Things (IoT). EFG Hermes acted as the sole Egyptian financial advisor and corporate broker for the transaction.
“We are incredibly proud to have been part of this prominent transaction, managing and delivering flawless execution. The transaction marks as one of the largest M&A transactions ever in Egypt’s history and one of the largest M&As in MENA this year, and follows a strong year for our advisory practice leading several regional and local M&A, equity, and debt transactions,” Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes’ Investment Banking division, said.
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