M&A-

#1- TBS Holding eyes Dubai-based consumer packaged goods company acquisition in Gulf push: Homegrown TBS Holding is currently in talks to acquire a Dubai-based consumer packaged goods firm as part of efforts to strengthen its supply chains, particularly for frozen meals seeing strong demand, Chief Investment Officer Sameh El Sadat told Cairo Weekend’s Zeina Soufan (watch, runtime; 13:56). El Sadat added that the company is mulling an IPO in the Saudi market.

Remember: The company is embarking on an EGP 250 mn local expansion over three years, including a new factory to triple production capacity, while separately investing USD 40 mn in Saudi Arabia, where it's building a commercial-scale bakery through its Shahia Investments partnership.

#2- Domty to exclude bakery unit from Arla acquisition: EGX-listed dairy company Domty is reportedly negotiating to exclude its bakery segment from Denmark-based Arla Foods' potential EGP 8.9 bn acquisition for up to 100% of the company, Asharq Business reports, citing unnamed sources it says have knowledge of the matter. Domty filed a disclosure (pdf) to the EGX confirming that the proposal is being studied and discussed.

ICYMI- Domty plans to invest EGP 200 mn in 2025, focusing on bakery and export growth. The bakery unit, launched in 2018, contributed EGP 478.4 mn (22.4%) to total earnings, with dairy contributing the majority (EGP 1.51 bn, 70.7%).

Ownership breakdown: Expedition Investments holds 32.9% in Domty, International Dairy Investment owns 24.6%, Trivi Holding has 11.5%, and Yahya Mohammed Awad Bin Laden owns 15.7%.

EXPANSION-

#1- Banque Misr to open its first Djiboutian branch this month: State-owned lender Banque Misr will open its first branch in Djibouti on 23 April as part of a wider Africa expansion plan, an unnamed official told Al Shorouk. The lender also plans on opening a branch in Somalia’s Mogadishu and converting its Kenya representative office into a full branch.

This has been in the works for some time: President Abdel Fattah El Sisi announced back in 2022 that Banque Misr was planning on setting up shop in Djibouti, but no specific date was set.

#2- CIRA Education eyes Saudi expansion: EGX-listed education provider CIRA Education is studying potential investments in the Saudi market as part of its plan to set foot in the market, according to an EGX disclosure (pdf).

Part of the plan: Earlier this year, Saudi Public Investment Fund-backed Social Impact Capital increased its stake in the nation’s leading private-sector education company to 88.7% from 51.2%. The move was said to position CIRA for regional expansion.

ENERGY-

Energean still has faith in its Egypt’s assets: Energean is negotiating with Egyptian authorities to consolidate its three local concessions into a single operation, a move CEO Mathios Rigas told Asharq Business would streamline costs and improve efficiency (watch, runtime 12:21). The Mediterranean gas producer argues that larger concession areas would create better economies of scale, with Rigas emphasizing they want to “take advantage of synergies” to free up capital for further investment.

ICYMI- The talks come shortly after Energean terminated its USD 945 mn transaction to sell Mediterranean assets to Carlyle Group.

EARNINGS-

Heliopolis Housing and Development saw a significant drop in net income in 2024, which fell 67.2% y-o-y to EGP 2.6 bn in 2024, according to the company’s latest earnings (pdf). The real estate player saw operating revenues dip 93.2% y-o-y to EGP 1.1 bn during the year.

Dividend distribution: The company’s board approved paying shareholders a dividend of EGP 1.33 per share for its 2024 earnings, according to an EGX disclosure (pdf).

MANUFACTURING-

#1- Another industrial zone incoming: Real estate player Arabia Holding secured a 2.3 mn sqm plot worth EGP 4.5 bn from the New Urban Communities Authority, which it will use to set up an industrial zone, an unnamed source told Al Shorouk. The company plans to offer the first phase of the zone to investors before the end of the year.

#2- Realme to open smartphone local factory this June: Chinese smartphone maker Realme will open its first local manufacturing facility in Egypt this June, Cairo Chamber of Commerce’s mobile division head Mohamed Talaat told Al Shorouk. The factory will produce four models initially, and while Talaat didn’t disclose production volume, he said the move could slash local Realme handset prices by over 50%, thanks to reduced import and customs costs. Talaat hinted that a local Apple factory could follow, citing stronger investor confidence amid ongoing state efforts to support domestic production.

HOSPITALITY-

#1- Gov't sets licensing rules for holiday home rentals: The Tourism Ministry has issued new regulations to license holiday home units — furnished apartments, villas, and suites rented to tourists — as part of its push to diversify accommodation options and bring short-term rentals under formal oversight, according to a ministry statement. The new framework aims to ensure safety, comfort, and service quality, while simplifying procedures to help operators obtain the required licenses.

What qualifies as a holiday home? The new category includes any unit with at least one room — up to full villas — located in designated tourist areas or upscale residential compounds. Licensed units must meet minimum service and safety standards and receive a tourism suitability certificate. Operators are required to notify the ministry electronically, submit all supporting documents, and pay the prescribed fees. The rules come into effect the day after their publication.

#2- Another pyramid-view hotel in the works: An Egyptian-Saudi-Kuwaiti alliance is looking to set up a EGP 3 bn pyramid-view hotel, an unnamed official told Asharq Business, naming state-owned Banque Misr’s Misr Abu Dhabi Co. for Investment as the Egyptian partner on the project. The hotel will be built on a 7.5k sqm plot facing the Grand Egyptian Museum. Construction on the project is scheduled to start during 4Q 2025.

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