EFG Hermes has successfully advised Al Ezz Dekheila Steel on its restructuring plan, the investment bank said in an emailed statement. The restructure involved the EGP 2 bn acquisition of Ezz Rolling Mills and the USD 424 mn acquisition of Ezz Flat Steel. Al Ezz Dekheila made two mandatory tender offers to fully acquire Ezz Rolling Mills for EGP 23.07/share, and purchase the remaining 56% stake in Ezz Flat Steel for USD 10.09/share. The transaction was initially greenlit by the Financial Regulatory Authority back in November and was implementedin December.

Tags: