Bisco Misr to welcome new majority shareholder: American cereal and snack maker Kellanova (FKA Kellogg Company) will sell its entire majority stake in Egypt’s largest biscuit company, Bisco Misr, to UAE-based business conglomerate Hayel Saeed Anam Group (HSA), the companies said in a press release (pdf). The companies didn’t disclose the value of the transaction.

What’s next? The transaction is set to close by 1Q 2025, “subject to the satisfaction of customary conditions, relevant regulatory approvals and the completion of a mandatory tender offer process for minority shares,” the statement read.

Remember: Kellanova acquired 86% of Bisco Misr back in 2015, as part of a number of investments that it made into Egypt’s F&B sector at the time.

HSA is no stranger to Egypt: The group has been present in the local market over the past 30 years through local F&B player ARMA Group. The Bisco Misr acquisition will help the group develop its presence in Egypt and “accelerate the internationalization of Bisco Misr’s popular brands.”

Bisco fever: “We firmly believe that our agreement today will help open a remarkable growth for Bisco Misr, a highly valued and iconic brand in Egypt. Bisco Misr’s deep-rooted legacy and reputation perfectly align with our vision. We are committed to continuing to grow our investments in Egypt and tapping into the immense potential of this market, contributing to its economic prosperity while continuing to deliver the high-quality products that consumers love and trust,” HSA Group board member and ARMA group chairman, Muneer Hayel Saeed, said.

Advisors: Zaki Hashem is advising the buy side, while Clifford Chance is acting as legal advisor to Kellanova, according to Al Borsa.

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