Cairo – Mubasher: Quantum Investment BV has raised its stake in Edita Food Industries to 40% from 33%, Egyptian investment bank HC Securities said.
Quantum acquired 50.77 million shares in the Cairo-based confectioner at EGP 20 per share with a total value of EGP 1.01 billion, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
The producer of Twinkies in Egypt last posted an EGP 243 million in profits during the full-year 2017, up from EGP 168.17 million a year earlier.
Edita’s sales amounted to EGP 3 billion last year, compared to EGP 2.5 billion in 2016.
Edita’s capital amounts to EGP 145.07 million distributed over 725.36 million shares at a par value of EGP 0.20 per share.
