Project Details

Project Details

Al Shorooq

This is a majority acquisition of the owning company of the project (Shuruk). Shuruk represents an Egypt-based retailer owning a supermarket chain and other retail activities. Shuruk has a strong brand equity for more than 25 years. Its operations are spread across Egypt with 27 branches and total sales of about EGP 156 m. and EGP 194 m. for years 2015 and 2016. The Stores includes: 5 stores for F&B, 19 stores for home appliances and 8 stores for wholesale. Total Enterprise value of the Company is estimated at EGP 100 million. Additional investments are required to initiate upgrade plan for the existing branches and expand in the F&B sector by opening 15 new stores over 5 years. Total requirement US$ 6 million.