**#4 M&A WATCH- B Investments acquires majority stake in Gourmet in EGP 125 mn transaction: Private equity firm B Investments announced yesterday that it has acquired a majority stake in Gourmet in an EGP 125 mn transaction that saw it acquire a 40% stake from Wadi Degla at a cost of EGP 65 mn and also fund an EGP 60 mn capital increase. The transaction, the company’s third since its IPO, brings B Investments’ total holding in Gourmet to c. 53%, the company said in a press release (pdf). Proceeds from the capital increase will be allocated to expanding Gourmet's frozen meats and poultry plant in 6 October City as well as growing its prepped meal business line. “We are extremely excited to partner with Gourmet Group’s experienced management team and to continue its growth story to become Egypt’s leading fresh, high quality food prfrozen ovider,” said B Investments Chairman Hazem Barakat.

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