Agthia Group PJSC (ADX:AGTHIA) agreed to acquire Al-Faysal Industrial Group on November 25, 2020. For the year ended 2019, Al Faysal Bakery and Sweets generated revenues of AED 92 million, and EBITDA of AED 27 million, and net income of AED 17.2 million. The transaction has been approved by the Agthia Group board. Lammiman Rob, Storrar Henry, Stuart Nicholas of Allen & Overy LLP acted as legal advisor to Noor Kuwait LBO Fund LP.
Agthia Group PJSC (ADX:AGTHIA) completed the acquisition of Al-Faysal Industrial Group on January 27, 2021. EFG-Hermes Holding S.A.E (CASE:HRHO) acted as financial advisor for Agthia Group PJSC.