PRIVATIZATION-

Wastewater plants, schools, and electricity projects to soon be offered up for the private sector: The government is preparing to hand over four industrial wastewater plants to the private sector within 3 to 4 months, Ater Hannoura, head of the Finance Ministry’s Private Partnership Unit, told Enterprise. It also intends to offer 26 schools to the private sector in the next two months as part of the second phase of the private-public partnership schools program — that’s two more schools than what was announced in June. Four electricity transformers projects will also be offered up to the private sector, Hannoura added, without specifying when.

INDUSTRY-

Sidpec restarts fertilizer production: Sidi Kerir Petrochemicals (Sidpec) started receiving feed gasses and gradually resumed operations in its factories on Thursday, the company said in an EGX disclosure (pdf). The nation’s power crisis has forced major petrochemicals and fertilizers to halt operations completely over the past few days. Sidpec, Abu Qir Fertilizers, Mopco, and Kima have cited the lack of feed gasses as a reason to power down their factories.

The first of many? While the remaining fertilizer producers are yet to announce they have resumed operations, we believe that Sidpec is the first of many to once again kick off operations following the halt.

CAPITAL MARKETS-

IDH shareholders could get more for delisted shares: Integrated Diagnostics Holdings (IDH) will soon up its delisting buyback price to EGP 20 per share from EGP 18.62, after the EGX deemed the initial price tag too low, saying that it “did not in fact properly take account of certain aspects of the applicable regulations given the low trading volumes in the company's shares,” the consumer healthcare giant said in a statement (pdf). The new price tag will be discussed during an extraordinary general meeting, the date of which is yet to be announced.

Refresher: IDH decided to delist its shares from the EGX due to “limited trading activity” and the “absence of any investment potential in maintaining the listing on the secondary market.” . The decision was approved by IDH shareholder’s during an extraordinary general meeting at the beginning of June.

M&A-

We have a valuation of Elsewedy Electric: Independent financial advisor BDO Key Financial Consulting’s assessment peg Elsewedy Electric’s valuation at EGP 112.1 bn — at EGP 52.38 per share — following Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding’s bid to acquire a 24.5% stake in Elsewedy Electric, according to an EGX disclosure (pdf).

Remember: Electra has been purchasing shares in Elsewedy Electric at USD 1.05 per share in a bid to acquire up to 24.5% stake after receiving the regulatory greenlight. It will continue to purchase shares from shareholders until 9 July.

ALSO- Elsewedy to set up copper factory in Saudi Arabia: Elsewedy Electric is setting up a copper factory in Saudi Arabia that will go live in six month’s time, CEO Ahmed Elsewedy told Al Arabiya Business. The company also recently inaugurated an aluminum factory in the kingdom, he added.

EVS-

More EV charging stations incoming: Our friends at the renewables firm Infinity want to set up 350 new EV charging stations by the end of the year, CEO Mohamed Mansour told Asharq Business. This will bring Infinity’s total number of charging points to 1k, which will serve around 10k EVs.

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