By Mostafa Adel
Cairo – Mubasher: Private equity firm Actis has sold half of its stake in Egypt’s Edita Food Industries at EGP 900 million ($101 million), said Menna Shams El Din, Investor Relations & Business Development Manager.
The fifty-percent stake represents 50.7 million shares, or 7.5%, of the firm’s shares in Egypt’s food snack maker, Menna told Mubasher.
Edita is capitalized at EGP 145 million, distributed over 725.4 million shares.
On 9 June 2015, Investment Manager of Actis Sherif El-Kholy said that Actis, which was acquiring 30% of Edita, is not planning to exit from Edita Food Industries, following the selling of 15% of its shares until they accomplished the required result of the investment “as any private equity investment”.
By 12:56pm Cairo time, Edita’s stock quote settled at EGP 17.85 a share after 50.74 million shares were changed hands at EGP 905.79 million.
Translated by Ahmed Elsayed Ali
