Cairo 3A acquires 50% stake in Pyramid Poultry

M&A WATCH- Cairo 3A acquires 50% of Pyramid Poultry: Cairo 3A has acquired a 50% stake in Pyramid Poultry for EGP 340.2 mn, according to the local press. Pyramid Poultry’s financial advisor CI Capital valued the company at EGP 680.4 mn, with each of its 12 mn shares valued at EGP 56.7. The company is planning a EGP 153 mn capital increase within the next two months, more than doubling its current capital to EGP 273 mn from EGP 120 mn currently. The two companies were negotiating the sale of a 60% stake but decided on 50% before concluding the transaction.