Swicorp advises Savola in the MENA region's largest ever private equity deal

Savola's divestiture took place within the 100% acquisition of EFC by two Abraaj Capital managed funds on June 3rd, 2007 - a transaction believed to be the largest private equity deal ever closed in the MENA region. The total consideration paid by Abraaj Capital funds for the acquisition of EFC amounts to USD 1.4 billion.

In 2005, Swicorp had already advised Savola to participate with the largest stake in the consortium led by Citadel Capital which acquired a 100% of EFC through a public tender process. The trade sale to Abraaj Capital comes therefore less than 2 years after the initial investment, representing a net IRR to Savola of close to 100% and a capital gain of more than USD 200 million.

This successful divestiture of its stake in EFC is the latest in a long line of corporate finance and capital market transactions on which Swicorp has advised Savola, over many years, helping the Savola Group to consolidate its position as one of Saudi Arabia's most successful industrial companies, with a strong presence throughout the MENA region & beyond.

EFC is the largest private sector integrated nitrogen fertilizer producer in Egypt, and
the largest Egyptian exporter of fertilizer. The company has recently completed a sizable expansion project which doubled the existing capacity to 1.27 million tons of urea per year.