M&A WATCH- NBE to acquire another 2% of Arab Contractors subsidiary? Arab Contractors reportedly sold another 2% of its shares in Mostakbal Urban Developments to state-owned National Bank of Egypt (NBE) in an EGP 1.2 bn transaction yesterday, unnamed sources tell Al Mal.

Advisers: HC Securities acted as the sell-side advisor to Arab Contractors while Beltone Securities was buy-side legal counsel.

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