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The Qatari partner to sell stake inBavaria Group

Wednesday 23 January 2019 09:31 AM

Bavaria Group
Bavaria Group

By Ahmed Nabil

The Qatari partner in Bavaria Motors, Egypt's sole authorized BMW & Mini dealership, decided to sell its stake in the group, according to informed source.

While a group of Egyptian and Arab investors expressed interest in taking over the Qatari stake, investment bank Arqaam Capital Limited has been appointed as financial advisor to the restructuring of the company's ownership structure, as well as the office of Maatouk Bassiouni and El-Henawi as legal advisor.

" During the first quarter of 2019, bidders will be invited to tender, as an Egyptian businessman is the nearest to acquire the share of the outbound partner," informed source told Al-Mal newspaper.

The Bavaria Group, assembling most BMW brands in the 6th of October City's factory, managed to propel BMW trademark to prominence in the Egyptian market with sales amounting to 5000 last year.