Global Investment Holdings, an institutional investor based in the United Arab Emirates has acquired 30% of Eastern Tobacco on the Cairo Stock Exchange for $625 million. This acquisition represents an investment of $625 million, with additional support of $150 million announced to strengthen Eastern Tobacco’s cash position.
This is one of the main private equity transactions of the third quarter of 2023. This announcement follows the Egyptian government’s decision to sell some of its assets in various companies for a total of $1.9 billion.
Source: Africa News Agency