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M&A WATCH- Banque Misr has sold its 2% stake in Saudi Arabia’s Samba Financial Group for USD 370 mn, Vice Chairman Akef El Maghraby told Reuters, without naming the buyer. El Maghraby told Sky News that the divestment came amid plans to sell stakes in entities in which the bank does not participate in management […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Egypt reaches staff-level agreement with IMF on fifth tranche of USD 12 bn facility
** #4 Egypt reaches staff-level agreement with IMF on fifth loan tranche: Egypt reached a staff-level agreement with the IMF yesterday on the fifth USD 2 bn tranche of its USD 12 bn extended fund facility after a delegation led by Egypt Mission Chief Subir Lall completed its fourth review of the government’s economic reform […]
Posted inWhat We're Tracking Today
What we’re tracking on 31 October: Halloween, ACWA Power’s 2.25 GW plant, oil prices and the end of US citizenship by birthright
Happy Halloween, ladies and gentlemen. We’re celebrating with a game (or two) of Stranger Things Monopoly with the family tonight — and hope you have something similarly enjoyable planned. We love holidays — of all nations, religions and persuasions — but Halloween really appeals to the kid in each of us. Because chocolate. Power purchase […]
Posted inWhat We're Tracking Today
Miscellany on 31 October: GCC making peace with Israel, mega IPO in Kazakhstan, impact investing
In miscellany this morning: Worrying indicator of the day: Credit card companies in the US are tightening credit limits in “an unusual move in a strong economy that may signal longer-term concerns about consumers’ financial health.” (WSJ) Is the GCC following Egypt’s lead on Israel a generation later? “Prime Minister Benjamin Netanyahu’s surprise visit to […]
Posted inWhat We're Tracking Today
Apple unveils new MacBook Air, iPad Pro, Mac Mini
Apple unveiled yesterday a new MacBook Air and a new iPad Pro, so forgive us for feeling that Christmas came early this year. The new MacBook Air could well be the most perfect MacBook yet released: We love the MacBook Pro’s raw power (we’re using it to work on this morning’s issue — the successor […]
Posted inEnterprise+: Last Night’s Talk Shows
Another quiet night on the airwaves
It was another quiet night on the airwaves after what was a fairly slow news day. The government is considering amendments to a 2010 law that regulates private sector participation in national infrastructure projects, cabinet spokesperson Nader Saad told Al Hayah Al Youm. He explained that the law was due for an update since it […]
Posted inSpeed Round
Medhat Khalil & Co looking to submit MTO for Raya
** #1 M&A WATCH- Medhat Khalil & Co to submit mandatory offer for 100% of Raya? Conflicting media reports emerged yesterday over reports that Raya founder Medhat Khalil is leading a group that will submit a mandatory tender offer (MTO) to acquire 100% of Raya Holding for Financial Investments by 27 November. Khalil, the company’s […]
Posted inSpeed Round
NBE to buy additional 2% of Arab Contractors subsidiary for EGP 1.2 bn
M&A WATCH- NBE to acquire another 2% of Arab Contractors subsidiary? Arab Contractors reportedly sold another 2% of its shares in Mostakbal Urban Developments to state-owned National Bank of Egypt (NBE) in an EGP 1.2 bn transaction yesterday, unnamed sources tell Al Mal. Advisers: HC Securities acted as the sell-side advisor to Arab Contractors while […]
Posted inSpeed Round
Emaar Properties boss Mohamed Alabbar is looking to acquire a hotel in Cairo
** #2 INVESTMENT WATCH- Emaar Properties boss Mohamed Alabbar is looking to acquire a hotel in Cairo amid plans to grow his company’s investments in Egypt, Al Mal reports, citing unnamed sources. No details on the size of the potential investment or the name of the hotel were provided. The iconic UAE business leader reportedly […]