Last Thursday, Orascom Investment Holding (OIH) published its 2018 financials along with a number of board decisions, including approval of 100% acquisition of Nile Sugar. Nile Sugar is owned by the Sawiris family, OIH’s majority shareholder. The announcement did not come as a surprise as management had previously expressed its intention to make this acquisition as part of OIH’s foray into the food sector. However, when revealed the same day, the valuation, prepared by an independent financial advisor (IFA), for Nile Sugar raised many eyebrows.
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