Hadef & Partners

Nov 20, 2023

4 minutes read In a strategic move to tap into Egypt’s booming economy and growing population, Japanese conglomerate Mitsui & Co. has announced a significant investment in Wadi Poultry (“Wadi”) and its related subsidiaries. The investment, facilitated through a UAE-based holding company, aims to bolster Wadi’s integrated production business, covering breeding chickens, broiler production and processing, processed food manufacturing, and product distribution. The agreement positions Mitsui’s holding company as an associated entity of Mitsui following the share acquisition. This move aligns with Mitsui’s broader initiative to create a “wellness ecosystem,” as outlined in its Medium-term Management Plan 2026, focusing on providing healthy food options to enhance consumer lifestyles. Wadi, a prominent agribusiness group with three key sectors—Poultry, Animal Nutrition, and Agri-food—has been actively engaged in Egypt’s agribusiness industry for over 30 years. With a diversified portfolio, Wadi’s integrated production business spans various stages, from broiler production to food manufacturing and distribution. Mitsui has a track record of successful ventures in integrated production businesses across Asia, particularly in Japan and other Asian countries. This investment mirrors Mitsui’s previous ventures in North and West Africa, including its 2018 investment in Zalar Holding, a major broiler business in Morocco and Senegal. The advisors Clifford Chance and  Matouk Bassiouny & Hennawy (“MBH”) acted as Mitsui’s international and local counsel respectively. The MBH team advising on the transaction was led by Omar S. Bassiouny (Founding Partner and Group Head of Corporate and M&A, pictured left) and assisted by Ossama Abouzeid (Senior Associate), Salma El Refaie (Associate), Zahra Ashraf (Associate) and Youssef Shaaban (Junior Associate). Adsero – Ragy Soliman acted as legal counsel and Zilla Capital provided financial advisory for Wadi Group. Hadef & Partners , a UAE-based legal counsel, collaborated in reviewing transaction documents from an English law perspective. The Adsero team advising on the transaction was led by Ragy Soliman (Managing Partner, Co-Head of M&A and Capital Markets, pictured right) and Dina Sherif (Senior Associate, pictured center), assisted by Yomna Taha (Managing Associate) and Mariam Choukri Fayek (Associate).