AHMED EZZ SNAPS UP ANOTHER SLICE OF EZZ STEEL: Steel magnate Ahmed Ezz purchased some 4 mn shares in Ezz Steel on Tuesday, a source familiar with the transaction told Enterprise following the release of an EGX bulletin (pdf). We believe Ezz purchased the shares from El Garhy Steel’s Gamal El Garhy at around EGP 80 apiece at a total cost of EGP 324 mn.

** Who owns what? The transaction brings Ezz’s majority stake up 0.7% to 66.4% and El Garhy’s stake down to 5.2% by our math. The Bank of New York Mellon owns 5.82%, according to the company’s shareholder structure (pdf) at the end of 3Q 2023.

SODIC JOINS FORCES WITH DELTA OIL: SODIC is teaming up with Delta Oil for OilRecycling startup to set up an integrated ecosystem in the country to collect used cooking oil and pass it on to refineries that can turn the waste byproduct into biodiesel. (Al Mal)

** Want to know more? We spoke to Delta Oiland other local companies turning used cooking oil into EGP in our weekly Going Green deep-dive back in August.

GORILLA TECHNOLOGY SETTING UP SHOP IN EGYPT: British software company Gorilla Technology will set up a new distribution company in Egypt and invest some USD 100 mn to support growth across the region. (Asharq Business)

EL ETREBY GROUP TO BUILD NEW CITRUS EXPORT STATION: Agricultural crop exporter El Etreby will invest EGP 550 mn to establish a new citrus fruit export station in Sadat City set to begin operations in 2025. (Al Borsa)

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