EFG Hermes Successfully Concludes Advisory and Execution for the Acquisition of 55% Ownership of Vodafone Egypt by South African Vodacom Group
The transaction, the largest in Egypt and amongst the largest in MENA, follows several M&A executions the Firm advised on this year, reinforcing its position as the leading M&A house in the region
Cairo, December 15, 2022
EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed advisory and execution of the acquisition of the 55% stake of Vodafone Egypt to South African Vodacom Group. The landmark transaction saw Vodacom Group acquiring from Vodafone Group 55% of Vodafone Egypt in exchange for cash consideration of EUR 577 million (equating to c. ZAR 10.806 billion) and 241,976,243 new shares in Vodacom Group. EFG Hermes acted as the sole Egyptian financial advisor and corporate broker for the transaction.
Vodafone Egypt, one of Africa’s premier telecom operators, is the market leading mobile network operator in Egypt, offering a range of integrated telecommunications services including voice, data and mobile money services to 43 million consumer and enterprise customers. Vodafone Egypt holds a strong network leadership position and is the country’s largest mobile wallet provider through Vodafone Cash.
Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes’ Investment Banking division, said: “We are incredibly proud to have been part of this prominent transaction, managing and delivering a flawless execution. The transaction marks as one of the largest M&A transactions ever in Egypt’s history and one of the largest M&As in MENA this year, and follows a strong year for our advisory practice leading several regional and local M&A, equity, and debt transactions”.
This transaction capitalizes on the Firm’s M&A expertise in the telecom sector in the past decade as well as the regional M&A advisory of the Company, having advised on several assignments in Egypt and the GCC in 2022, including Agthia’s acquisition of Auf Group, the majority stake sale of Al Meswak Dental Clinics the largest dental and dermatology service provider in Saudi Arabia, UAE-based AD Ports’ USD 140 million acquisition of Egypt’s Transmar International Shipping Company (Transmar) and Transcargo International (TCI), and our advisory to the Public Investment Fund of Saudi Arabia (PIF) on the acquisition of a minority stake in B.Tech.
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About EFG Hermes Holding
With a current footprint spanning 14 countries across four continents, EFG Hermes Holding (EGX: HRHO.CA – LSE: EFGD) has grown over 39 years of success to transform from a pure-play investment bank in MENA into an impact-driven universal bank in Egypt with the leading investment bank franchise in Frontier and Emerging Markets (FEM). Drawing on our proven track-record and a diverse team of talented employees, we provide a broad spectrum of financial services, including advisory, asset management, securities brokerage, research, and private equity, to the entire FEM region. In our home country, we have the fastest-growing non-bank financial institutions (NBFI) platform, with operations covering microfinance, leasing, factoring, Buy-Now Pay-Later (BNPL), digital payment solutions, mortgage finance, and insurance.
And with its latest acquisition of a majority stake in aiBANK, the Firm was able to provide commercial banking products and services.
Through its three verticals, the Investment Bank, Non-Bank Financial Institutions (NBFI), and Commercial Bank, the group is perfectly positioned to consistently bring disruptive financial products and services to the market space, offering a holistic portfolio that best serves its growing base of individual clients and businesses of all sizes.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Oman | Jordan | Pakistan | UK | Kenya | USA | Bangladesh | Nigeria | Vietnam | Singapore
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The EFG Hermes Holding Public Relations Team
May El Gammal
Group Chief Marketing & Communications Officer of EFG Hermes Holding
Note on Forward-Looking Statements
In this press release, EFG Hermes Holding may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations, and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
