Eversheds Sutherland advises Investec Asset Management

Eversheds Sutherland has acted for Investec Asset Management (“Investec”) on its acquisition of a controlling stake of Spinneys Egypt, a leading supermarket chain in Egypt.

The transaction marks the first private equity investment for Investec in Egypt. Investec’s investment strategy focuses on growth capital and buyout investments in established mid-market and larger companies in Africa.

Investment Principal at Investec, Nick Marsh, commented,“This investment offers us the opportunity to support the accelerated expansion of the business across Egypt. We are excited about the very attractive growth opportunity for the business.”

Eversheds Sutherland’s Head of Corporate/M&A (Dubai), Zeid Hanania said, “We are delighted to have supported the Investec team on their first private equity investment in Egypt.” Partner Hani Nassef added, “By navigating through the bidding process, Investec have achieved a balance which both supports the business and strategy of Spinneys Egypt and provides Investec with an attractive investment opportunity. We look forward to continuing to work with them on future transactions.”

The Eversheds Sutherland team was led by Dubai based partners Zeid Hanania and Hani Nassef, who were supported by associates Eliza Grant and Shahyan Dastur.