{"id":624420,"date":"2018-09-09T04:11:21","date_gmt":"2018-09-09T04:11:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/"},"modified":"2018-09-09T04:11:21","modified_gmt":"2018-09-09T04:11:21","slug":"pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/","title":{"rendered":"Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets"},"content":{"rendered":"<p><a id=\"tldr-story-07\" class=\"content-anchor\"><\/a> <strong>**#7 M&A WATCH- Pharos said to be advising on Spinney\u2019s sale:<\/strong> Our friends at Pharos Holdings are reportedly the advisers on the sale of Spinney\u2019s by majority owner Abraaj, <a href=\"http:\/\/almalnews.com\/Story\/388606\/11\/%C2%AB%D8%A3%D8%A8%D8%B1%D8%A7%D8%AC%C2%BB-%D8%AA%D8%B3%D8%AA%D8%A3%D9%86%D9%81-%D8%B9%D9%85%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%AA%D8%AE%D8%A7%D8%B1%D8%AC-%D9%85%D9%86-%D8%B3%D8%A8%D9%8A%D9%86%D9%8A%D8%B3\">according to Al Mal<\/a>. Al Mal\u2019s piece suggests that Pharos is the sell-side adviser on the sale. Spinney\u2019s CEO Mohanad Adly confirmed on Saturday that it had <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/05\/five-pe-firms-are-kicking-the-tires-of-spinneys-the-abraaj-owned-retailer\/\">received expressions of interest from five private equity firms<\/a> looking to buy the company, but gave no further detail.<\/p>\n<p>This came as <strong>global private equity firm Actis reportedly made a USD 1 offer to acquire some of Abraaj\u2019s assets,<\/strong> sources close to the matter <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-09-05\/abraaj-fund-unit-that-managed-14-billion-is-said-to-get-1-bid\">told Bloomberg last week<\/a>. We had heard <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/02\/what-were-tracking-on-02-september-2018\/\">earlier this month<\/a> that Actis made a bid to acquire \u201cthe bulk\u201d of Abraaj Group\u2019s emerging market funds. Actis is up against Abu Dhabi Financial Group as well as a consortium formed by Kuwait\u2019s Agility and New York-based Centerbridge Partners. Rohatyn Group and the Chicago-based middle-market PE firm <a href=\"http:\/\/vistria.com\/\">Vistria Group<\/a> are also in the running, alongside Colony Capital, which is now looking to acquire Abraaj\u2019s Latin American assets (after its initial offer to acquire all of the firm\u2019s assets was rejected). Helios Capital has reportedly made an offer for the company\u2019s African assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>**#7 M&#038;A WATCH- Pharos said to be advising on Spinney\u2019s sale: Our friends at Pharos Holdings are reportedly the advisers on the sale of Spinney\u2019s by majority owner Abraaj, according to Al Mal. Al Mal\u2019s piece suggests that Pharos is the sell-side adviser on the sale. Spinney\u2019s CEO Mohanad Adly confirmed on Saturday that it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624420","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0fe04613-8c40-455d-bcc8-c74c1560bda0","order":"0","is_powered_by":true,"section_story_id":"bead160b-52a9-498b-b21e-a39ec7c49de3","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624410],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets\" \/>\n<meta property=\"og:description\" content=\"**#7 M&amp;A WATCH- Pharos said to be advising on Spinney\u2019s sale: Our friends at Pharos Holdings are reportedly the advisers on the sale of Spinney\u2019s by majority owner Abraaj, according to Al Mal. Al Mal\u2019s piece suggests that Pharos is the sell-side adviser on the sale. Spinney\u2019s CEO Mohanad Adly confirmed on Saturday that it [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-09T04:11:21+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets\",\"datePublished\":\"2018-09-09T04:11:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\"},\"wordCount\":224,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/09\/09\/pharos-adviser-on-sale-of-spinneys-actis-makes-usd-1-offer-for-abraajs-assets\/\",\"name\":\"Pharos adviser on sale of Spinney\u2019s, Actis makes USD 1 offer for Abraaj\u2019s assets - 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The transaction \u201csolidifies Pharos Investment Banking\u2019s capabilities and growing presence in the M&A market in Egypt,\u201d said Pharos Holding\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624319,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/five-pe-firms-are-kicking-the-tires-of-spinneys-the-abraaj-owned-retailer\/","url_meta":{"origin":624420,"position":1},"title":"Five PE firms are kicking the tires of Spinney\u2019s, the Abraaj-owned retailer","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"** #7 M&A WATCH- Five PE firms are kicking the tires of Spinney\u2019s, the Abraaj-owned retailer: Abraaj Group-owned Spinney\u2019s Egypt is reviewing offers from five unnamed private equity funds hoping to acquire stake in the company from Egyptian shareholders looking to exit their investments, CEO Mohanad Adly tells Al Mal.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624964,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/24\/ezdehar-is-among-several-bidders-looking-to-snag-spinneys-from-abraaj\/","url_meta":{"origin":624420,"position":2},"title":"Ezdehar is among several bidders looking to snag Spinney\u2019s from Abraaj","author":"enterpriseam admin","date":"24 September 2018","format":false,"excerpt":"**#4 M&A WATCH- Ezdehar is among several bidders looking to snag Spinney\u2019s from Abraaj, sources close to the matter tell Al Mal. The owners are expected to settle on a buyer and complete the transaction in a month\u2019s time, they add. The newspaper did not name the other bidders. We\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596960,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/14\/investec-acquires-spinneys-for-undisclosed-sum-marking-its-first-pe-investment-in-egypt\/","url_meta":{"origin":624420,"position":3},"title":"Investec acquires Spinney\u2019s for undisclosed sum, marking its first PE investment in Egypt","author":"enterpriseam admin","date":"14 July 2019","format":false,"excerpt":"M&A WATCH- Investec has acquired Spinney\u2019s Egypt from Abraaj for an undisclosed figure, marking the asset management company\u2019s first private equity investment in Egypt and the eighth investment from its second pan-African private equity fund, according to a statement (pdf). Investec\u2019s Investment Principal Nick Marsh described the Spinney\u2019s model as\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602671,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/abraaj-lps-vote-to-give-actis-the-right-to-manage-defunct-firms-sub-saharan-africa-asia-funds\/","url_meta":{"origin":624420,"position":4},"title":"Abraaj LPs vote to give Actis the right to manage defunct firm\u2019s sub-Saharan Africa, Asia funds","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"M&A WATCH- Limited partners in Abraaj funds have reportedly voted in favor of giving Actis the right to manage the defunct PE firm\u2019s sub-Saharan Africa and Asia funds, unidentified sources tell Al Mal. The vote is not the final step in handing over the funds, which remains contingent on a\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597086,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/its-official-actis-takes-over-management-of-apef-iv-and-aaf-iii-funds-from-abraaj\/","url_meta":{"origin":624420,"position":5},"title":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"It\u2019s official \u2014 Actis takes over management of APEF IV and AAF III funds from Abraaj: Emerging markets private equity giant Actis has officially taken over the management of the Abraaj Private Equity Fund IV (APEF IV) and Abraaj Africa fund III (AAF III) in a landmark transaction for PE\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/367.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=624420"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624420\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624410"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624420"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624420"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}