EFG Hermes concludes advisory on MENA-based discount retailer Kazyon’s acquisition of a 50% stake in Dukan in Saudi Arabia

EFG Hermes concludes advisory on MENA-based discount retailer Kazyon’s acquisition of a 50% stake in Dukan in Saudi Arabia

Cairo: EFG Hermes, EFG Holding’s Investment Bank, the leading investment bank in Frontier and Emerging Markets (FEM), announced today that its Investment Banking division successfully concluded advisory on a merger and acquisition (M&A) deal for Kazyon, a prominent MENA-based discount retailer. In this transaction, Kazyon successfully acquired a 50% stake in Dukan, the sole discount retailer in Saudi Arabia, signaling its strategic entry into the Saudi market. Al Dabbagh Group, the existing shareholder of Dukan, will retain the remaining 50% stake in the company. EFG Hermes advised Kazyon on the acquisition of Dukan with White and Case acting as legal counsel.

Commenting on the transaction, Karim Galal, Managing Director at EFG Hermes’ Investment Banking Division said, “We are proud to have played a pivotal role in facilitating Kazyon’s landmark acquisition of Dukan. This transaction aligns seamlessly with our strategic objective of expanding our presence in Saudi Arabia and highlighting the Kingdom’s immense investment potential across diverse sectors. Marking the second collaboration between EFG Hermes and Kazyon – with the first being EFG Hermes’ advisory role in Kazyon's USD 76.5 million capital raise/private placement in 2014 – this successful track-record is a testament to the longstanding relationship between the two entities. The