Fair value studies completed for Damietta, Port Said port operators:The Financial Regulatory Authority (FRA) is reviewing fair value studies of the state-owned Damietta and Port Said terminal operators ahead of stake sales in the two firms, Al Borsa reports, citing unnamed sources it says have knowledge of the matter. Finance and Banking Consultants International (FinBi) wrapped up the studies last week, according to the local news outlet.

REMEMBER- Gulf players are reportedly vying for strategic stakes: Abu Dhabi Ports (ADP) has reportedly submitted an initial offer for a controlling stakein both Damietta Container & Cargo Handling Company (DCHC) and Port Said Container & Cargo Handling Company (PSCCHC). Meanwhile, talks with Qatar’s sovereign wealth fund for stakes in the two firms had reportedly stalled over the size of the stake on offer, with the Transport Ministry reportedly reluctant to sign off on the Qatari fund acquiring a majority stake in the companies.

BACKGROUND- Both companies — subsidiaries of the Holding Company for Maritime Transport — were named in Madbouly’s list of 32 state-owned companies geared for privatization.

More advisors:CI Capital is reportedly financial advisor for both transactions.

Tags: