Raya Holding gives initial nod to Helios’ MTO for Raya Foods

Updated 1/12/2026 9:48:00 AM

Arab Finance: Raya Holding for Financial Investments' board of directors has preliminarily approved a mandatory tender offer (MTO) submitted by Helios Investment Partners LLP to acquire 100% of its subsidiary Raya Foods, as per a disclosure.

The approval follows an initial review of the offer, which originally targeted the acquisition of 49% of Raya Foods’ share capital.

Helios has since submitted an amended MTO seeking full ownership of the subsidiary, whose issued capital amounts to 3.40 million shares.

The board also approved authorizing the chairman of the board and the managing director, acting jointly or individually, to take all necessary procedures related to reviewing the offer, negotiating its detailed terms, and signing relevant agreements after completing the required technical, financial, and legal due diligence.

As part of the process, the board approved appointing FACT Financial Advice Corporate Transactions S.A.E. as an independent financial advisor to determine the fair value of Raya Foods’ shares.

Following the completion of negotiations and the issuance of the independent advisor’s report, the transaction will be presented to the extraordinary general assembly for approval.

Moreover, the board approved that its 76%-owned Aman Holding for Non-Banking Financial Services Technology and electronic Payments establish a new company under the name Aman Sukuk to operate in the sukuk business, with the participation of Raya Holding.

The company will be established with an issued and paid-up capital of EGP 10 million.