Finance(Ecofin Agency) - British investment firm Helios continues to expand its commitment to the food sector in North Africa. Helios Investment Partners, an Africa-focused private equity firm managing over $3 billion in assets, has offered to acquire a 49% stake in Raya Foods, Egypt’s second-largest exporter of frozen fruits and vegetables. According to the announcement made on October 20 by Raya Foods' parent company, Helios aims to buy a set of shares from Raya Holding for Financial Investments, the sole shareholder of Raya Foods. The funds raised will support Raya Foods' international growth plans. The investment firm, which has offices in Kenya and Nigeria, is exploring additional opportunities in Egypt’s consumer, healthcare, and fintech sectors.

Source: The North Africa Journal October 22, 2024 19:12 UTC