{"id":21605,"date":"2024-03-18T18:31:19","date_gmt":"2024-03-18T15:31:19","guid":{"rendered":"https:\/\/entarabi.com\/?p=21605"},"modified":"2024-03-18T18:36:02","modified_gmt":"2024-03-18T15:36:02","slug":"efg-hermes-announces-the-completion-of-the-acquisition-and-merger-of-cinomy-retail","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/03\/efg-hermes-announces-the-completion-of-the-acquisition-and-merger-of-cinomy-retail\/","title":{"rendered":"EFG Hermes announces the completion of the acquisition and merger of Cinomy Retail"},"content":{"rendered":"<div class=\"relative flex w-full flex-col agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"6ad9e274-58da-4286-b90d-d81d83d9c79c\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p style=\"text-align: left;\">EFG Hermes Investment Bank, a subsidiary of EFG Hermes Group operating in the Middle East and North Africa markets, announced today the successful completion of the advisory services for &#8220;Synomy Retail&#8221; in a merger and acquisition deal.<\/p>\n<p style=\"text-align: left;\">&#8220;Synomy Retail&#8221; is a leading retail company in the Kingdom of Saudi Arabia.<\/p>\n<p style=\"text-align: left;\">In December 2023, &#8220;Synomy Retail&#8221; signed a share purchase agreement with &#8220;Abdullah Al Othaim Fashion&#8221; to acquire 100% of its subsidiary, &#8220;Innovative Dress Commercial,&#8221; which holds franchise rights to 16 brands. This deal was finalized in February of the current year after obtaining necessary approvals and fulfilling regulatory commercial conditions.<\/p>\n<p style=\"text-align: left;\">Abdullah Salsal, a manager in the Promotion and Subscription Coverage sector at EFG Hermes, expressed pride in the pivotal role the company played in completing this deal, which aligns with the company&#8217;s strategic objectives to expand in Saudi Arabia.<\/p>\n<p style=\"text-align: left;\">This deal marks one of the notable achievements of &#8220;Synomy Retail&#8221; as part of its transformation program, focusing on leading brands in fashion, electronics, food, and beverages.<\/p>\n<p style=\"text-align: left;\">EFG Hermes acted as the transaction advisor for the seller, &#8220;Synomy Retail,&#8221; while Clyde &amp; Co. acted as the legal advisor. On the other side, Latham &amp; Watkins served as the legal advisor for &#8220;Abdullah Al Othaim.&#8221;<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>EFG Hermes Investment Bank, a subsidiary of EFG Hermes Group operating in the Middle East and North Africa markets, announced today the successful completion of the advisory services for &#8220;Synomy Retail&#8221; in a merger and acquisition deal.<\/p>\n","protected":false},"author":11,"featured_media":21602,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[3730,3728,3729],"class_list":["post-21605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-bdullah-salsal","tag-efg-hermes","tag-synomy-retail"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/21605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=21605"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/21605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/21602"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=21605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=21605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=21605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}