EFG Hermes Successfully Concludes Advisory and Execution for the Acquisition of 55% Ownership of Vodafone Egypt by South African Vodacom Group

The transaction, the largest in Egypt and amongst the largest in MENA, follows several M&A executions the Firm advised on this year, reinforcing its position as the leading M&A house in the region

EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed advisory and execution of the acquisition of the 55% stake of Vodafone Egypt to South African Vodacom Group. The landmark transaction saw Vodacom Group acquiring from Vodafone Group 55% of Vodafone Egypt in exchange for cash consideration of EUR 577 million (equating to c. ZAR 10.806 billion) and 241,976,243 new shares in Vodacom Group. EFG Hermes acted as the sole Egyptian financial advisor and corporate broker for the transaction.
Vodafone Egypt, one of Africa’s premier telecom operators, is the market leading mobile network operator in Egypt, offering a range of integrated telecommunications services including voice, data and mobile money services to 43 million consumer and enterprise customers. Vodafone Egypt holds a strong network leadership position and is the country’s largest mobile wallet provider through Vodafone Cash.
Maged El Ayouti, Managing Director and Deputy Head of EFG Hermes’ Investment Banking division, said: “We are incredibly proud to have been part of this prominent transaction, managing and delivering a flawless execution. The transaction marks as one of the largest M&A transactions ever in Egypt’s history and one of the largest M&As in MENA this year, and follows a strong year for our advisory practice leading several regional and local M&A, equity, and debt transactions”.
This transaction capitalizes on the Firm’s M&A expertise in the telecom sector in the past decade as well as the regional M&A advisory of the Company, having advised on several assignments in Egypt and the GCC in 2022, including Agthia’s acquisition of Auf Group, the majority stake sale of Al Meswak Dental Clinics the largest dental and dermatology service provider in Saudi Arabia, UAE-based AD Ports’ USD 140 million acquisition of Egypt’s Transmar International Shipping Company (Transmar) and Transcargo International (TCI), and our advisory to the Public Investment Fund of Saudi Arabia (PIF) on the acquisition of a minority stake in B.Tech.