Bahraini group acquires two Egyptian companies

First Equity Partners, a Bahraini-based company offering investment banking and advisory services, had completed the acquisition of two Egyptian companies working in the food and agriculture fields.

Speaking to MENA, First Equity Partners Managing Director Omar al Maghawry said the two deals, worth EGP 40 million, are part of the group's expansion plan.

The group had acquired 55% of the shares of the Suez Canal Trade and Agricultural Development, which was established in 1981 and has a 10% share of the seeds market in Egypt.

It also bought 54.2% of the shares of NOG Investment Company specialized in catering, food services and restaurants, Maghawry said.