Sarie-Eldin & Partners advises on Bisco Misr's sale to the Kellogg Company
Sarie-Eldin & Partners advises on Bisco Misr's sale to the Kellogg Company Sarie-Eldin & Partners has advised the majority shareholders of Bisco Misr (EGX: BISM) on the sale of their majority stake to the Kellogg Company (NYSE: K), the world's leading cereal company. The selling majority shareholders included the Concord Egypt Fund and the Commercial International Bank (EGX: COMI). The majority shareholders received multiple offers, culminating in a bidding contest between the Kellogg Company and the UAE based Abraaj Group. The initial share offer price was for EGP 73.91 per share, but after several rounds of competing bids, the Kellogg Company placed the winning offer at EGP 89.86 per share, for a total transaction value of USD 125 million. Dr. Hani Sarie-Eldin, the firm's managing partner, advised on the transaction. He was assisted by Mr. Ahmed Farahat, an associate in the capital markets group.
