MM Group increases stake in Kanawat Distribution to 62.7%

M&A WATCH- MM Group for Industry and International Trade increased its stake in Kanawat Distribution to 62.7% up from 37.5% in a transaction worth EGP 73.9 mn. The acquisition of 21.67% has been completed, while the remaining 3.53% is pending approval from the EGX. We had previously reported that MM Group was going to increase its stake to just north of 59%.