Eagle Capital hires EFG, Zulficar for restructuring of Egyptian Media Group

IPO WATCH- Eagle Capital has tapped EFG Hermes and Zulficar & Partners to act as financial and legal advisors on the restructuring of Egyptian Media Group (EMG), which Eagle Capital had acquired last month, unidentified sources tell Al Borsa. EFG Hermes had acted as the sole buy-side advisor to Eagle Capital in the acquisition, while Zulficar & Partners were the legal advisors on the transaction. According to the sources, Eagle Capital will likely IPO EMG once the restructuring process is complete within two years’ time. Studies are currently underway to remove EMG’s unprofitable activities to raise its profits to 5% of its capital, which is the minimum requirement to list the company, the story says.