​Landmark US$ 70 million deal for 49% of Egypt’s largest advertising, media and marketing communications firm comes after a highly competitive bidding process by the world’s two largest communication groups After a year-long bid process, Tarek Nour Group, Egypt’s largest advertising, media and marketing communication firm, has chosen global communication giant DDB as its strategic partner. Tarek Nour Group entertained offers from DDB (part of Omnicom, the world’s largest communication group), WPP (the world’s second-largest communication company) and a private equity investor from the Gulf. The shareholders of Tarek Nour Group recently signed an agreement with DDB Europe Limited for the sale of a 49.0% stake in the Tarek Nour Group, which includes TN Holdings and other Tarek Nour affiliated and related companies, for a consideration of US$ 70.0 million (EGP 375.2 million). Tarek Nour Group will be 51.0% owned by the Tarek Nour Family and 49.0% owned by DDB Europe. DDB plans to position the Tarek Nour Group as a platform to expand in the fast-growing Middle East region. “We have always seen DDB and Omnicom as a potentially strong partner for both the short and long term,” says Tarek Nour Group Founder and Chairman Tarek Nour. “We see this move by DDB as a vote of confidence in our Group. Through this partnership, DDB will gain more than just exposure to Egypt’s fast-growing advertising and media sectors: This is a strategic regional partnership between the two companies.” The Egyptian Capital Market Authority recently granted DDB an exemption from tendering on the offer to acquire 49.0% of TN Holdings, which is listed on the newly established Nile Stock Exchange (Nilex). Both parties are now finalizing all regulatory approvals necessary to execute the transaction. EFG Hermes Investment Banking acted as sole financial advisor to the Tarek Nour Group on this transaction, while EFG Hermes subsidiary Financial Brokerage Group is the assigned broker to execute the transaction, the first of its kind on the Nilex.