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HomeStartup NewsUAE-Based Electra Investment Holding Aquires 20% Stake With Elsewedy Electric for USD450...

UAE-Based Electra Investment Holding Aquires 20% Stake With Elsewedy Electric for USD450 Million

Electra Investment Holding pays USD 449.1 million for 427.7 million worth of shares, acquiring a 20% interest in Elsewedy Electric.

The acquisition is in line with the 15–24.5% intended ownership range that Electra set forth in its earlier this year voluntary offer.

The acquisition was facilitated by advisors EFG Hermes and MHR & Partners with White & Case, while BDO Keys Financial Consulting provided advice to Elsewedy Electric.

Electra Investment Holding is expected to purchase a substantial 20% of Elsewedy Electric after buy orders totaling 427.7 million shares—worth roughly USD 449.1 million—were successfully completed.

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This deal fits within Electra’s planned ownership range, which was between 15% and 24.5% of the company, as stated in their voluntary offer earlier this year.

Elsewedy Electric’s fair value per share is EGP 52.38, however the purchase price of USD 1.05 per share, at the current exchange rate, translates to EGP 50.33.

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Elsewedy Electric was advised by BDO Keys Financial Consulting, and EFG Hermes and MHR & Partners with White & Case representing Electra are among the advisors involved.

Elsewedy Electric’s share price experienced only minor fluctuation in spite of this noteworthy news, ending the day at EGP 47.54.Elsewedy Electric is still primarily owned by the Elsewedy family, who own more than 76% of the business’s shares.

About Electra Investment Holding

Electra investment holding is a executive leadership team has closed hundreds of transactions worth over $10 billion. The team’s expertise in multifamily real estate purchases, underwriting, structuring, closing, and property management allows them to swiftly and properly underwrite opportunities and deliver aggressive financing solutions to sponsors.

About Elsewedy Electric

Elsewedy electric is a global leader that has grown from a small electrical equipment maker into an integrated infrastructure solutions provider with over 19,000 people and USD 5 billion in revenues in 2023. Wire, Cable & Accessories, Electrical Products, Engineering & Construction, Digital Solutions, and Infrastructure Investments are our main business sectors.

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