Egypt’s Rational International Enterprises has placed bid to acquire 100 percent, with a minimum of 75 percent, of the International Foods Company (IFC), the exclusive Hostess products distributor in the country. The company is offering to purchase shares for 21 Egyptian pounds ($3.6) per unit, reported CASE.
Sigma Capital has acted as sole financial advisor for the initial public offering (IPO). Hostess is an American producer of well-known brand named goods, such DingDongs, Twinkies and Cup Cakes. IFC has a network of 1,680 wholesale clients and 4,300 retail clients throughout Egypt. Further penetration of the Delta, the canal area, and Upper Egypt is planned. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
