Investec in talks to acquire Spinneys Egypt

M&A WATCH- Investec is doing due diligence on Spinneys Egypt ahead of a potential acquisition, Al Mal reports. If concluded, the transaction would be Investec’s first acquisition in Egypt. Five private equity firms, including Ezdehar, had been looking to acquire Spinneys from Abraaj Group following the PE giant’s collapse last year.

Advisors: Pharos Holding was said in September to have been sell-side advisor on the transaction, with Matouk Bassiouny reportedly on board as legal counsel.