Ezdehar to acquire Alfa Market stores: Local private equity firm Ezdehar plans to purchase up to four of Alfa Market’s stores in Cairo to expand the presence of Zahran Market, one of its portfolio companies, Managing Director Emad Barsoum told Enterprise. The firm expects to wrap up the purchase in the coming weeks, he added.

Remember: Alfa Market was reported in June to be preparing to sell off some of its stores in a bid to repay mounting debts. Ezdehar moved into the retail sphere last year when it acquired a 60% stake in retail supermarket chain Zahran Market through its Mid-Cap Fund II (EMF II).

Fact check: Barsoum denied a report in Al Mal which claimed the firm wants to acquire an equity stake in the troubled retailer, citing anonymous sources.

SME fund still in the works: Ezdehar is preparing to launch its planned EGP 1 bn fund targeting medium-sized businesses that are struggling to secure funding in 4Q 2023 or 1Q 2024, Barsoum told us. The firm is looking into potential companies to invest in and is still in talks with investors. The company is targeting three or four investors, mostly local banks, he added.

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