Pharos Holding announced on Monday the successful sale of 100% of the share capital of National Company for Paper Products (NPP) to Mondi Group for a total of EGP 150m ($29m).
Pharos Securities Brokerage was the broker for the deal on behalf of NPP shareholders, while Al Tamimi and Co served as legal adviser.
The transaction highlights Egypt’s attractive local market dynamics, strong regional competitiveness, and wide geographic reach, which has culminated in its current position as a doorway to Africa and the MENA region.
“Investor sentiment towards Egypt is turning positive and continues to improve as Egypt reaps the benefits of its economic reforms,” said Aladdin El-Afifi, managing director and co-CEO of Pharos Holding.
“We remain confident of the Egyptian market and our ability to continue to support our clients to achieve their long-term strategic objectives,” stated Noha El-Ghazaly, managing director and head of Pharos Investment Banking.
NPP is a provider of Kraft paper packaging to the building materials industry and was the largest locally owned producer of Kraft paper packaging, while Mondi Group provides packaging and paper solutions to its customers.
Furthermore, Pharos Holding provides a wide range of financial services to institutions and individuals in Egypt, the wider region, and internationally. Pharos Holding’s services include investment banking, securities brokerage, asset management, research, online trading, and bookkeeping.