Emirati investment firm Rimco Investments acquired a 3.0% stake in Edita for EGP 192 mn in a transaction Thursday, Bloomberg Asharq reports, citing unnamed market participants. The Dubai-based company reportedly purchased 20 mn shares at EGP 9.60 per share. A representative from Edita declined to comment when asked by Enterprise yesterday.

The seller: One source told Asharq that UK-based investor Kingsway Capital was the selling shareholder. Al Ahly Pharos reportedly executed the transaction.

Who owns what: Kingsway would now hold 8.9% of the company, having owned 11.9% prior to the transaction according to a disclosure (pdf) earlier this month. Netherlands-based PE player Quantum Investment owns 42.7% while the remainder of the company is in freefloat.

Buybacks: This comes as Edita proceeds with a share repurchase program that will see it buy back 4.8% of its shares by January.

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