Cairo – Mubasher: Eagle Capital has hired EFG Hermes as its financial advisor on the restructuring of its Egyptian Media Group, Alborsa News reported, citing sources familiar with the matter.
Zulficar and Partners Law Firm will act as a legal advisor in the restructuring process, the newspaper added.
The sources forecast Eagle Capital to float Egyptian Media Group on the Egyptian Exchange (EGX) right after the restructuring process is complete within two years.
Studies are currently tackling the separation of Egyptian Media’s unprofitable operations, in a bid to boost its profits to minimum 5% of its capital to be compatible with the listing conditions, according to the sources.
Egyptian Media CEO Hossam Saleh had previously revealed that Eagle Capital had bought 100% of Egyptian Media’s shares.
