Egypt's Ezdehar acquires 80% stake in Seta Textiles

Updated 1/9/2024 8:03:00 AM
Egypt's Ezdehar acquires 80% stake in Seta Textiles

Arab Finance: The Egyptian equity investor Ezdehar has acquired an 80% stake in Seta Textiles as part of its plan to invest $70 million in 2024, Ezdehar’s Founder and Managing Director Emad Barsoum told Asharq Business.

The acquisition includes increasing Seta Textiles’ capital to fund its expansion plans in Egypt or abroad, Barsoum noted.

He has not disclosed any details regarding the value of the deal.

This transaction marks Ezdehar's first acquisition deal in the apparel retailing sector and the second investment for Ezdehar Mid-Cap Fund II (EMF II) after acquiring the retail supermarket chain Zahran Market.

Related News