Unnamed PE fund close to buying out Egypt’s Cook Door

M&A WATCH- Unnamed PE fund close to buying out Cook Door: An unnamed foreign private equity fund is in the final stages of acquiring a majority stake in the International Company for Food Industries (IFCI), which owns fast-food chain Cook Door, reports Al Mal, citing sources close to the matter. No details on the transaction or further information on the fund were provided. The acquisition would inject enough capital for the fast food chain to push forward with a plan to nearly double its number of branches to 150 from 80. IFCI Chairman Amr El Said recently said the company is planning to increase its investments in Egypt to EGP 1 bn, alongside pushing forward with a regional expansion plan that would focus on Saudi Arabia, according to Al Mal.