EAEF, other investor bidding for a “major stake” in HyperOne -source

M&A WATCH- Retailer HyperOne has reportedly received two separate bids from investors looking to acquire a controlling stake, sources tell Al Mal. The sources say one of the bids is from the Egyptian American Enterprise Fund and the other is from “a foreign investment company” entering Egypt for the first time. Al Mal says HyperOne hired Pharos Holding as a sell-side advisor and Al Tamimi & Co as legal counsel. There is no announced timeline for the transaction.