Shearman And Sterling

News April 02, 2015

Shearman & Sterling Advises on Initial Public Offering of Edita Food Industries

Shearman & Sterling advised EFG-Hermes Promoting & Underwriting and Goldman Sachs International as Joint Global Coordinators in the initial public offering of Edita Food Industries S.A.E. (“Edita”) and the listing of Edita's ordinary shares on the Egyptian Exchange and global depositary receipts on the London Stock Exchange. The transaction closed on April 2, 2015.

Edita is a leading manufacturer and distributor of snack foods in Egypt, selling over 3.2 billion packs of snacks in Egypt in 2014. Edita produces a wide variety of snacks in its four production plants, including packaged cakes, croissants, baked wheat snacks and candies, many of which are household names in Egypt. Edita also exports its products to over 14 regional markets. Edita's local brand portfolio includes household names such as Molto, Todo, Bake Rolz, Bake Stix, Freska and MiMiX, and it also has exclusive ownership of selected international brands including Twinkies, HoHos and Tiger Tail in Egypt, Libya, Jordan and Palestine.

The Shearman & Sterling team of lawyers in the firm’s London, Abu Dhabi and Washington, DC offices was led by Capital Markets partner Richard Price and included Finance partner James Duncan, Capital Markets partner Marwan Elaraby and associates Jonathan Handyside, Joseph Payne, Randy Nahle, Brian Butterwick and Eric Ho. Partner Kristen Garry and associate Kammy Lai advised on US tax aspects of the transaction, while counsel Simon Leatherman and associates Elizabeth Emerson and Melanie Gendy advised on UK tax aspects. M&A associate Amine Assouad, Financial Institutions Advisory & Financial Regulatory associate Oliver Linch and legal assistant Judith Smit-Haffmans also provided assistance on the transaction.