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Thndr Claps » EGY Claps » Mergers & Acquisitions 🤝 » Agthia set to acquire 60% of Abu Auf 🥜

Agthia set to acquire 60% of Abu Auf 🥜

by Omar El Shorafa
July 17, 2022

The Clap
Agthia, a UAE based F&B company, is set to acquire a 60% stake in Abu Auf.

The Deets
After the acquisition is complete, the founders of the company will hold a collective 30% while TCV will hold a 10% stake. 

Why not an IPO?
Management of Auf have shown their preference to be acquired rather than have an IPO as they feel the strategic partnership will help them in expanding operations.

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