​The Arab world’s leading investment bank was sole sell-side advisor to Paradise Capital in the sale of its 52% stake in leading Egyptian white-goods maker Olympic Group to Sweden’s Electrolux, Europe’s largest manufacturer of household appliances. Cairo — EFG Hermes, the leading investment bank in the Arab world, announced today that its Investment Banking Division has closed the sale of Egyptian white-goods manufacturer Olympic Group for Financial Investments to Sweden’s Electrolux Group following a mandatory tender offer by Electrolux for 100% of Olympic’s shares. The mandatory tender offer, the period for which ended on 5 September 2011, was 98.33% accepted by shareholders, implying a total transaction size of USD 404 million. EFG Hermes Investment Banking was sole sell-side advisor to top Egyptian investment firm Paradise Capital for Financial Investments on the sale of its 52% stake in Olympic Group, the transaction that triggered the mandatory tender offer. Financial Brokerage Group, a subsidiary of EFG Hermes Holding, also acted as the transaction broker for both Paradise Capital and Electrolux. The Olympic Group acquisition is the first sizeable foreign direct investment in Egypt following the January 25 Revolution and represents a strong vote of confidence in the Egyptian economy at a significant moment in the nation’s modern history. The transaction marks the close of Investment Banking’s third M&A transaction in the past nine months, following its advisory to Orascom Telecom on the sale of its 50% stake in Orascom Telecom Tunisia to Qatar Telecom in early 2011, and its advisory to Italy’s Wind Telecom on its merger with Russia’s Vimpelcom in April. The Paradise Capital advisory brings the Firm’s total M&A executions in 2011 to USD 27.4 billion (enterprise value).