Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
M&A-
#1- Admaius announces strategic partnership with Parkville: Rwanda-based private equity firm Admaius Capital Partners has inked a strategic partnership with Parkville that will “enable the company to expand regionally, leveraging its existing brands, strong pipeline, and Admaius’ extensive network,” the firm said in a press release (pdf). The release doesn’t disclose the stake acquired or its value.
Advisors: Matouk Bassiouny advised Admaius Capital on the transaction and Zilla Capital was the sole financial advisor to Parkville. Adsero Ragy Soliman & Partners acted as Parkville’s legal advisor.
#2- Progress on the stake sale of ACDIMA’s pharma ingredients production arm? Shareholders in the newly established ACDIMA subsidiary for the production of active pharma ingredients will meet to discuss recent offers for a stake in the company, Al Mal reports. The subsidy will be responsible for ACDIMA’s new USD 165 mn factory, which will produce 28 active ingredients and is expected to start operations in 2026.
Who’s interested? Arab sovereign funds have reportedly been in talks with ACDIMA to acquire a 20% share in the subsidiary.
REAL ESTATE-
Madinet Masr unveils property warranty solution: Real estate playerMadinet Masr has launched a property warranty solution — dubbed Theqa — that offers homeowners across its projects maintenance solutions for up to 20 years upon receiving their units, it said in an EGX disclosure (pdf). Under Theqa, customers will pay an unchanged sum for their property warranty certificate, which replaces maintenance deposit.
North Coast, Saudi expansion ahead? The company is also looking to enter the Saudi market and is currently looking at land plots that it could potentially acquire, CEO Abdallah Salam said according to Mubasher. The firm is also working to acquire a 400-feddan plot of land in the North Coast.
Social Housing Fund eyes EGP 50 bn loan: The Housing Ministry’s Social Housing and Mortgage Finance Fund is seeking a EGP 50 bn syndicated loan from four local banks to build affordable housing units for low- and middle-income home buyers, unnamed government sources told Asharq Business.
What we know: The National Bank of Egypt, Banque du Caire, the Housing and Development Bank, and Banque Misr are providing the loan, with the Finance Ministry providing guarantee, according to the sources. The fund is expected to receive the first tranche of the loan by 2Q 2024.
