Wadi IV

completed

Wadi Holdings Company (SAE) and its subsidiaries (“Wadi” or the “Company”) is a leading vertically integrated agri-food group in Egypt with operations in poultry (broiler day old parents, broiler and layer day old chicks), poultry feed (including soy bean crushing), food (olives, olive oil, and other packaged foods), and food retail and logistics (including port operations). Established in Egypt in 1984 with a small-scale poultry operation, Wadi today operates 12 subsidiaries with ten brands over three distinct sectors: Dawagen (poultry), Sina'at (industries) and Mazareh (farms).    Fifty Four Holding is a Lebanese holding company that was established to be the raw materials trading arm for Wadi, and to eventually hold all of Wadi’s offshore operations. It has an identical ownership structure to that of Wadi.   IFC’s investment is a corporate A loan in the amount of USD22 million to Wadi and Fifty Four Holding. The proposed Project consists of (i) the establishment of new poultry grandparent and parent breeder sites in Toushka in southern Egypt, to increase capacity in line with Wadi’s growing poultry market position in Egypt, and to improve bio-security measures for the flocks. Wadi will also relocate its existing farms to the new farms in Toushka; (ii) expanding Wadi’s growers’ hypermarket concept and relocating Wadi’s food processing plant from Sadat City to a new, larger plant in KM54 on the Cairo-Alexandria Desert Road; (iii) refinancing some of Wadi’s short term local-currency debt; and (iv) restructuring the corporate organization of Wadi and Fifty Four Holding, and clearing some of the inter-company debt.