Amazon Exercises Option to Acquire Direct Stake in Valu
U Consumer Finance S.A.E., known under the trademark Valu, a subsidiary of EFG Holding, and EFG Holding are pleased to announce that Amazon has agreed to exercise its option to acquire a direct equity stake in Valu.
In May 2022, Amazon entered into an Option Agreement with EFG Holding, acquiring USD 10 million of EFG Holding GDRs, with the option to convert such GDRs into a direct stake in Valu, equivalent to 4.255% of its share capital, upon a qualified liquidity event. Today's exercise of that option, based on the terms and conditions of the Option Agreement, will result in Amazon owning approximately 3.95% of Valu. The transaction will be executed on the first trading session of Valu shares on the Egyptian Exchange at a price per Valu share of EGP 6.041 through the block trade mechanism, following receipt of the necessary approval.
Karim Awad, Group CEO of EFG Holding, commented, "We are proud to witness Amazon's decision to acquire a direct stake in Valu, a testament to EFG Holding's proven ability to build greenfield ventures that evolve into pioneering market leaders. This milestone underscores our unwavering commitment to our shareholders, as we continue to create and manage businesses that deliver exceptional value and long-term rewards. Valu's success exemplifies our dedication to driving financial inclusion and digital transformation in Egypt and beyond, while solidifying our position as a catalyst for innovation and growth in the region."
Walid Hassouna, CEO of Valu, stated: "This milestone stands as a powerful testament to the resilience and adaptability of our business model, a model that is versatile, agile, and perpetually evolving to meet the dynamic needs of our diverse client base and partners. At Valu, we remain unwavering in our commitment to redefining the customer experience through cutting-edge financial solutions that empower individuals and businesses alike, driving both convenience and opportunity in every interaction."
Maged El Ayouti, Co-Head of Investment Banking at EFG Hermes, commented, "We take immense pride in having played a pivotal role in facilitating Valu's remarkable journey from securing a strategic investment from Amazon to delivering Valu's anticipated landmark debut on the EGX. These milestones stand as a testament to the power of our advisory expertise in helping companies achieve transformative growth and expansion."
Valu was listed on the EGX on 21 May 2025. Valu's shares will be admitted to trading on the EGX on 23 June 2025.
EFG Hermes acted as the sole financial advisor to EFG Holding and Valu on the transaction.
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