EFG Hermes, EAEF confirm Fawry transaction

News circulating once more on acquisition of majority stake in Fawry at a valuation of EGP 773 mn. News of Fawry’s acquisition by a consortium including Helios Investment Partners, the Egyptian-American Enterprise Fund, and EFG Hermes’ MENA Long-Term Value Fund — which we first covered in September — is making the rounds of the local press after consortium partner EFG Hermes and the Egyptian American Enterprise Fund both released statements on the transaction. (EFG Hermes’ statement is here; EAEF’s is here as an Arabic-language pdf.)