Al Bayan Group sells water biz in Oman UAE to Agthia Group

10/12/2015 12:49:38 PM

(MENAFN- Muscat Daily)Muscat-

Al Bayan Group of Companies has sold its 100 per cent equity stake in Al Bayan Purification and Potable Water LLCUAE Shaklan Plastic Manufacturing Co LLCUAE and Al Manal Purification & Bottling of Mineral Water LLCOman to Agthia Group PJSC one of the UAE's leading food and beverage companies.

Alpen Capital acted as the sole financial adviser to the Al Bayan Group a UAE-based diversified business group with has interests across health care F&B retail beverages and engineering industries a press release said on Monday.

'The Al Bayan Group has grown strongly in the last few years and has diversified business interests. The move to sell our water business across UAE and Oman is an integral part of our business strategy as it will help focus our efforts towards growing our retail and hospitality businesses. We are pleased that our water business will thrive under the ownership of the Agthia Group. I also would like thank the team at Alpen Capital our financial advisers who not only helped us identify a suitable buyer but also structured and seamlessly executed the transaction' said A K Mansoor chairman and managing director Al Bayan Group.

'We are very excited to merge our strengths with those of Al Bayan. As a major player in the 5 gallon bottled water segment in the UAE Al Bayan is an excellent strategic fit for Agthia further consolidating our leading position in the UAE water market. Al Bayan's manufacturing capabilities in the northern Emirates and Oman with an established brand and sales and distribution infrastructure coupled with Agthia's manufacturing expertise sales and marketing knowledge and its iconic brands will help unlock the growth potential of the combined business' said Iqbal Hamzah group CEO Agthia Group.

'This strategic investment by Agthia Group into Al Bayan is testimony to the potential opportunities that exist in the GCC for corporations and investors. We are happy to add value to this transaction using our extensive regional experience and expertise in the food and retail sectors' said Sanjay Vig managing director Alpen Capital (ME) Ltd.

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