M&A WATCH- An unnamed Arab sovereign wealth fund is looking to acquire 75-100% of Ismailia Agricultural and Industrial Investments for as much as EGP 3 bn, the local press reports, citing sources close to the transaction. The fund is reportedly in the midst of due diligence and expects the transaction to go through by the end of the year.

Is there another bidder in the wings? Ismailia, which owns packaged meat and poultry brand Atyab, previously received an offer for a majority stake in its operations from UK investment fund Alta Semper for EGP 2.3 bn.

Look at this through the lens of food security in this time of covid: The domestic press says the Arab SWF is positioning the potential acquisition as a means of increasing Egyptian exports and supporting food security in both countries.

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