Zulficar & Partners, UK’s Allen & Overy to manage Americana Egypt restructuring

Zulficar & Partners and the UK’s Allen & Overy have been tapped to restructure Americana Egypt on a regional level, the local press reported. No further details were provided, but the restructuring plans come after the Financial Regulatory Authority (FRA) last month ordered the majority shareholder Adeptio AD Investments to make a mandatory tender offer (MTO). Adeptio, which is led by Emirati businessman Mohamed Alabbar, acquired 67% of Americana Egypt’s parent company Kuwait Food Company (Americana) in 2016. This resulted in Adeptio controlling some 90% of the subsidiary’s shares, and prompted the FRA to order an MTO to purchase the remaining shares.