M&A-

UAE-based Nas Investments Holding submitted a mandatory tender offer to acquire an additional 57.5% stake in EGX-listed fertilizers player EgyFert, according to a statement (pdf). The move would bring Nas’ total holding in the company to 90% through the acquisition of an additional 5.5 mn shares.

If Nas hits its acquisition target, the total transaction would be valued at EGP 522.5 mn, with Nas paying EGP 95.0 per EgyFert share. Nas did not put forward a minimum acceptance threshold.

Market reax: Shares rose 1.7% by the end of trading on the EGX yesterday, settling at a share price of EGP 95.65 — marginally above Nas’ offer price.

REAL ESTATE-

Heliopolis Housing and Development will set up a EGP 2 bn residential complex in New Heliopolis, CEO Sameh El Sayed told Al Mal (watch, runtime: 1:28:21). The project is expected to rake in EGP 4 bn in sales, he said. Further developments in New Heliopolis are in the cards, with El Sayed earmarking EGP 3 bn for infrastructure investments over the next 4-5 years. The state-owned real estate company previously partnered with Madinet Masr and Sodic on developments in New Heliopolis.

RENEWABLES-

China’s JA Solar will supply 1.25 GW worth of solar panels for AMEA Power’s Abydos 2 project, under an agreement with project builder China Energy Engineering Corporation, the solar panel manufacturer said in a statement. No details about the cost of the agreement were disclosed.

Abydos 2? AMEA Power inked agreements last September to develop the 1 GW facility with a 600 MWh battery energy storage system located in Aswan’s Benban. The project will see investments of USD 850 mn and offset 782.3k tons of CO2 emissions and powering about 300k households.

EXPANSION-

Local dairy products producer Healthy will set up two factories in Saudi Arabia next year — one in Jeddah and one in Riyadh — in partnership with Saudi investors, the company’s general manager told Al Mal. Healthy will hold 49% of the plants, while the Saudi side will own a 51% majority stake. Output from the plans will be divided between exports and meeting local demand in the Kingdom.

ENERGY-

#1- Elsewedy Electric reached financial close on its 50MW/100MWh battery energy storage system project in Greece, according to a statement (pdf). The funding came in a mix of loans and grants — a EUR 10 mn state-aid grant, a EUR 5.5 mn loan from the EU’s Recovery and Resilience Fund, and a EUR 10 mn non-recourse project finance loan from the National Bank of Greece. The company also secured a 10-year contract for difference to “ensure a stable revenue stream.”

What they said: “This project represents a significant step forward for Elsewedy Electric as we grow our renewable energy portfolio and assist Greece in its pursuit of a sustainable energy future,” Corporate Investment Director Omar Foda said.

#2- Misr Petroleum will establish and revamp 70 fueling and service stations nationwide in FY 2025-2026, building on the 33 stations upgraded in 2H 2024, Misr Petroleum Chairman Mohamed Maged Bakheet said during a general assembly meeting attended by Oil Minister Karim Badawi, a ministry statement reads. Misr Petroleum is also ramping up safety with a new risk management department and plans to roll out a digital tracking system for its fuel transport fleet in collaboration with an unnamed international firm, Bakheet said.

INVESTMENT-

Private equity outfit Ezdehar Management is looking to invest up to USD 100 mn in acquisitions this year, Managing Director Emad Barsoum told Al Mal, with the company particularly focused on the retail, food manufacturing, and technology sectors. Up to USD 30 mn will be available for each investment, though the company is also studying investments of more than USD 100 mn that would be partially funded by investments from Ezdehar’s main shareholders.

MANUFACTURING-

Robbiki Leather City has fully allocated all 43 ready-made factories offered up in its firstoffering, with the selected applicants to be notified in due course before the results of the offering are made public on the Egypt Industrial Digital Platform, according to a Transport Ministry statement. A second offering of factories at the leather manufacturing initiative will soon be announced, the statement added.

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