It’s a busy day for acquisitions, with Egyptian companies acquiring stakes overseas, foreign companies upping their stakes in Egyptian companies, and — for good measure —Egyptian companies trying to acquire other Egyptian companies.

B INVESTMENTS’ MTO FOR ORASCOM FINANCIAL KICKS OFF TODAY-

Orascom Financial Holding (OFH) shareholders have 30 trading sessionsstarting today to respond to B Investments’ bid to acquire up to 90% of the company via a share swap. The Financial Regulatory Authority agreed on Thursday to extend the MTO to be run from today until 15 April, according to an EGX disclosure (pdf).

Remember: B Investments’ board in December agreed to a share swap ratio of one BInvestments share for every 56.76 OFH shares. To enable the swap, the board approved raising its issued share capital from EGP 800 mn to EGP 1.2 bn through the issuance of 75 mn shares at a par value EGP 5 per share. The board also put the share premium per share at EGP 20.22 to accommodate the share swap ratio. The FRA approved the MTO last week.

In the making since last summer: B Investments had approved a plan to submit the MTOback in June, but requested a deadline extension in September.

AGTHIA UPS STAKE IN ABU AUF-

UAE’s Agthia has acquired an additional 10% in Abu Auf parent company for EGP 691 mn (c. USD 22 mn),bringing its total share in the Egyptian snack and coffee company to 70%, according to an ADX disclosure (pdf) from Agthia. Food and beverage firm Agthia acquired a 60% stake in Abu Auf in 2022.

BASATA ACQUIRES STAKE IN JORDANIAN FINTECH PLAYER-

Basata, Jordan Kuwait Bank to snap up 30% of MadfoatCom:Fintech platform BasataHolding for Financial Payments and Jordan Kuwait Bank have put forward a binding offer to acquire a 30% stake in Jordanian bill payment provider MadfoatCom, according to a statement (pdf) from Basata. Madfoatcom’s shareholders have accepted the offer and it is now pending regulatory approval in Jordan. The value of the acquisition was not disclosed.

What they said: “We are excited to be part of this unique transaction which will enhanceregional cooperation between Jordan and Egypt,” Jordan Kuwait Bank CEO Haethum Buttikhi said.

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