HC Securities named co-financial advisor for Coca-Cola HBC-Egypt deal

HC Securities and Investment has co-advised MAC Beverages Ltd on the sale of its 52.7 percent stake in Coca-Cola Bottling Company of Egypt (CCBCE) as part of Coca-Cola HBC’s acquisition of 94.7 percent of total shares.

Coca-Cola Hellenic Bottling announced on Thursday it agreed to buy a 94.7 percent stake in CCBCE for an agreed total combined purchase price of $427 million, subject to certain adjustments.

The parties have entered into definitive agreements. The transaction is expected to close in late fourth quarter of 2021, subject to satisfaction of various conditions, including the receipt of certain lenders consents under CCBCE’s existing loan facilities and certain regulatory and other conditions, HC said in a statement on Sunday.

“This transaction testifies of Egypt’s attractiveness as a promising investment destination offering great business opportunities appealing to prominent international strategic investors” Mohamed Aburawi, Head of Investment Banking at HC, said.