Edita to buy out shareholder in subsidiary

M&A WATCH- Edita to acquire minority partner’s stake in candymaking subsidiary in EGP 60 mn transaction: Edita is buying out Confindal Ltd’s 22.27% stake subsidiary Edita Confectionary Co. in a transaction worth EGP 60 mn, Chairman Hani Berzi told Al Mal. Edita, which already owns 77.7% of its candymaking arm, is nearing a final agreement on the sale, which Berzi said will give Edita full control over expansion decisions going forward. Edita aims to launch a new production line for the subsidiary in the beginning of 2019 and sees great potential in the confectionary sector, Berzi said. Edita will not tap banks for financing for the transaction.