H&S Invest Holding has announced the takeover of Wb Africa Group, a Lebanese company, by becoming the majority shareholder with 52% of the Communication, Media and Press group which operates in several African countries.
Moncef Belkhayat CEO of H&S Invest holding declared “our increase in the capital of WB Africa Group allows us to consolidate the group’s financial results but also to create synergies in the marketing, media and digital value chain beyond our expertise as manufacturers and distributors of major brands of consumer products.
We will also continue to consolidate our partnership with Starcom, Zénith and Spark of the Publicis Media group as well as our association with the Amethis investment fund, which owns 28% of the Group.”
For his part, Bassel Mneinmeh CEO of the selling company MMindz declared: “We are happy to carry out this sale of all of our shares in Wb Africa Group to H&S Invest Holding . We will remain in close collaboration with all of the group’s top management while providing managerial transition support until the end of 2022″.
Created in 2016, WB Africa Group has 11 partner subsidiaries of several renowned clients in the field of creation and purchase of regional media space, in particular Maroc Telecom, Procter & Gamble, Samsung, Mondelez, Nestlé, Bel, GSK, FCA, Brasseries du Maroc, Societe Generale and TGCC among others
For information, H&S Invest Holding was accompanied by the firm Hilmi Law Firm and the selling party MMindz was accompanied by the firm Rayan Kouatly. Note that some minor conditions precedent must be lifted before May 31, 2022 for the finalization of the transaction.
