May 13, 2020
Cairo Poultry Company (POUL.CA on the Egyptian Stock Exchange – EGX), announced, that it has concluded the sale of its 27.27% equity investment in The Egyptian Company for Starch & Glucose (ECSG) (ESGI.CA).
CPC’s original investment in ESGC was made in 2004 as part of a consortium of Americana group and some of its subsidiaries who acquired c.93% of the business. Such investment formed a key part of CPC’s strategy to diversify its investment portfolio into food complementing business.
ESGC serves a diverse selection of sectors as a leading manufacturer of starch and glucose products since 1942. ESGC has been valued at c. EGP431 mn (EGP8.61/ share) of which CPC’s total investment consideration amounts to c. EGP118 mn.