Pharos Holding Successfully Concludes the Sale in Halayeb Company for Dairy & Juice Products

February 24, 2016

Pharos Holding for Financial Investments, a leading full-service investment bank based in Cairo, announced the successful closing of the sale of 100% of the shares of Halayeb Company for Dairy & Juice Products S.A.E. (“Halayeb”) to the French-based dairy giant Danone. Pharos Holding was mandated the exclusive sell-side financial advisor to the shareholders of Halayeb.

“This transaction further solidifies the attractiveness of the Egyptian dairy sector, driven by Egypt’s large population,” stated Pharos Holding Founder and Chairman Dr. Mohamed Taymour.

“This is the third transaction in the dairy sector over the course of less than 12 months that Pharos successfully closes, after we successfully completed the sale of Arab Dairy in March 2015 and
El-Misrieen in December 2015,” added the Managing Director and Head of Investment Banking of Pharos Holding, Mr. Sherif Abdel Aal.

“This transaction signals that interest from multinational strategic investors is still going strong, picking up the M&A momentum in 2016,” added Mr. Ahmed Heider, the Executive Director of Pharos Holding.

Pharos Brokerage was the sole broker for the transaction and Shalakany Law Office was the legal advisor to the sellers.

About Halayeb Company for Dairy & Juice Products (Halayeb)
Halayeb was established in 2005 and commenced operations in 2011, The Company is specialized in producing white cheese, processed cheese, and juice, with 67 SKUs. It has an 18,000 m2 production facility located in New Damietta industrial zone in Damietta governorate. The factory has an annual production capacity of c.50K MT of cheese and 10K MT of juice.

About Danone
Dedicated to bringing health through food to as many people as possible, Danone is a leading global food company built on four business lines: Fresh Dairy Products, Early Life Nutrition, Waters and Medical Nutrition. Through its mission and its dual commitment to business success and social progress, the company aims to create shared value for all of its stakeholders—its 100,000 employees, consumers, customers, suppliers and shareholders. Present in over 130 markets, the company generated sales of €22.4 billion in 2015, with more than half in emerging countries. Danone’s brand portfolio includes both international brands (Activia, Actimel, Danette, Danonino, Danio, Evian, Volvic, Nutrilon/Aptamil, Nutricia) and local brands (Prostokvashino, Aqua, Bonafont, Mizone, Blédina, Cow & Gate). Listed on Euronext Paris and on the OTCQX market via an ADR (American Depositary Receipt) program, Danone is a component stock of leading social responsibility indexes including the Dow Jones Sustainability Indexes, Vigeo and the Ethibel Sustainability Index

About Pharos Holding
Pharos Holding for Financial Investments is a leading full-service investment bank based in Cairo with thriving investment banking, private equity, asset management, securities brokerage and bookkeeping operations backed by a global-quality research arm. Pharos’ professional practices include one of Egypt’s five-largest securities brokers and a highly sought-after advisory practice with particular expertise in M&A, equity and debt transactions. The investment banking advisory division has closed landmark transactions across sectors ranging from chemicals and fertilizers to consumer finance, education and telecommunications. Pharos’ asset management practice controlled AUM in excess of nearly EGP 900 million at year-end 2014, comprehensively covering equity, balanced, Shariah-compliant, fixed-income and capital-guaranteed portfolios. Source: Press Release