Cairo - Mubasher: The board members of Raya Holding for Financial Investment have granted their preliminary approval for the offer submitted by Helios Investment Partners LLP to acquire 100% of the subsidiary Raya Foods.
Helios Investment submitted an adjusted offer to acquire 3.40 million shares instead of the previous takeover offer, which comprised 49% of Raya Foods' total shares, according to a bourse filing.
The board also agreed to appoint Financial Advice Corporate Transactions S.A.E (FACT) as the independent financial advisor to determine the fair value (FV) of Raya Foods’ shares.
During the first nine months (9M) of 2025, Raya Holding posted an annual surge of 47% in consolidated net profits after tax and minority interest to EGP 1.63 billion, compared with EGP 1.11 billion in 9M-24.
It is worth noting that in October 2024, Raya Holding invested $40 million in Raya Foods in a deal led by Helios Investment.
