Suez Cement hires financial advisor for Emaar acquisition

M&A WATCH- Suez Cement to hire financial advisor for valuation of white cement plant: Suez Cement’s board of directors signed off on the hiring of an independent financial advisor to come up with a fair value report on the Helwan Cement-owned white cement plant that it had agreed to sell to Emaar Industries, according to an EGX disclosure (pdf). Suez had agreed last month to sell the Minya plant, owned by subsidiary Helwan Cement, to Emaar Industries. The company’s general assembly will convene on 4 November to sign off on the sale agreement.

Advisers: Suez Cement was advised by EFG Hermes (financial advisor) and Zulficar and Partners (legal counsel).