Winvest sells majority stake in Seven Sky for EGP 40 mn

Winvest Capital for Development and Investment (WCDI) has completed its exit from food producer Seven Sky, the owner of the Kenzy brand, according to Al Mal. A consortium of businessmen, led by Seven Sky’s Chairman Sherif Ghaly purchased WCDI’s 51% stake for EGP 40 mn. WCDI had increased its stake in Seven Sky to 51% from 20% through a capital increase in 2014. The company says its return on investment since the capital increase was 25%.