M&A-

UAE-based Nas Investment Holding finalized upping its stake in EgyFert to 51.5% from 32.4% after acquiring an additional 1.8 mn shares at EGP 102 apiece, according to an EGX disclosure (pdf). The total transaction value came in at EGP 186.8 mn. Al Ahly Pharos brokered the transaction.

Nas was initially after a much bigger stake, after the holding company submitted an MTO for up to an additional 57.5% of the fertilizers player, which would have raised its stake in the company to 90%.

CONSTRUCTION-

Spain’s Acciona and the Development and Housing Company for Utilities secured a EUR 35 mn contract for the second phase of the Gabal El Asfar wastewater treatment complex, according to a statement from Acciona. The eight-year contract between the Spanish company and the local public-private enterprise was awarded by the Construction Authority for Potable Water and Wastewater and will see the consortium rehabilitate and upgrade two plants, each with a daily capacity of 500k cubic meters.

ICYMI- We heard back in April that the third phase of the water treatment plant is in line for EUR 50 mn in funding from the French Development Agency (AFD), a EUR 1.5 mn AFD grant, and a EUR 10 mn EU grant managed by the AFD. Local media reported back in September that the government would launch an international tender for the EUR 350 mn expansion of the plant, which involves designing, installing, and operating the first part of the third phase.

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