{"id":95682,"date":"2024-09-11T00:00:00","date_gmt":"2024-09-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/hsa-group-to-purchase-kellanovas-majority-stake-in-egypts-bisco-misr\/"},"modified":"2024-09-11T00:00:00","modified_gmt":"2024-09-11T00:00:00","slug":"hsa-group-to-purchase-kellanovas-majority-stake-in-egypts-bisco-misr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/09\/11\/hsa-group-to-purchase-kellanovas-majority-stake-in-egypts-bisco-misr\/","title":{"rendered":"HSA Group to purchase Kellanova\u2019s majority stake in Egypt\u2019s Bisco Misr"},"content":{"rendered":"

UAE-based business conglomerate <\/strong>Hayel Saeed Anam Group<\/a><\/strong> (HSA) has <\/strong>acquired <\/strong>a majority stake in Bisco Misr<\/strong>, Egypt\u2019s largest biscuit company, from American cereal and snack maker Kellanova (FKA Kellogg Company), the companies said in a press release (pdf)<\/a>. The companies did not disclose the value of the transaction.<\/p>\n

What\u2019s next? <\/strong>The transaction is set to close by 1Q 2025, subject to conditions and regulatory approvals, as well as the completion of a mandatory tender offer process for minority shares, the statement read.<\/p>\n

Background:<\/strong> Kellanova acquired 86% of Bisco Misr back in 2015, as part of a number of investments that it made into Egypt\u2019s F&B sector at the time.<\/p>\n

HSA is no stranger to Egypt: <\/strong>The group has been present in the Egyptian market over the past 30 years through FMCG player Arma Group. The Bisco Misr acquisition will help the group develop its presence in the country and \u201caccelerate the internationalization of Bisco Misr\u2019s popular brands.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The transaction is set to close by 1Q 2025<\/p>\n","protected":false},"author":1,"featured_media":95683,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2392],"tags":[23,7,1423,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95682","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-egypt","tag-enterpriseam-uae","tag-food","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"dbcee8b6-d18c-420c-9e1b-f28c32754217","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/827.jpg","photo_position":"above","homepage_title":"","full_issue_title":"HSA Group to purchase Kellanova\u2019s majority stake in Egypt\u2019s Bisco Misr","related_issue":[95675],"teaser":"The transaction is set to close by 1Q 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.1f8bd855-e19a-4f6d-a4da-3ac325036ed9.mp3"},"yoast_head":"\nHSA Group to purchase Kellanova\u2019s majority stake in Egypt\u2019s Bisco Misr - 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