Author Archives: enterpriseam admin

INVESTMENT WATCH- EFG, GEMS to partner up on new K-12 education platform in Egypt; could invest USD 300 mn over the next five years: EFG Hermes announced yesterday (pdf) that it’s partnering up with GEMS Education to invest in the K-12 education industry in Egypt. The project, a 50/50 joint venture, will see EFG Hermes […]

Gov’t to launch phase two of the 200 PPP schools program: The EFG-GEMS partnership comes as the Education Ministry plans to issue tenders for phase two of the government’s program to develop 200 schools under a public-private partnership framework, head of the ministry’s PPP unit Amany El Far tells Al Mal. The second phase is […]

M&A WATCH- MNHD, SODIC advisers meet for talks on potential merger: Advisers on the potential merger of leading real estate players SODIC and MNHD met last Thursday to discuss how to combine the two businesses, according to a regulatory filing (pdf) from SODIC. SODIC had appointed CI Capital and White & Case as its advisors, […]

M&A WATCH- NBE, Banque Misr to buy 4% of Arab Contractors subsidiary for EGP 2.5 bn: Arab Contractors will sell 4% of its share in Mostakbal Urban Developments to the state-owned National Bank of Egypt (NBE) and Banque Misr in a EGP 2.5 bn transaction, Arab Contractors Chairman Mohsen Salah said yesterday. The contracts for […]

Edita is planning to export to Saudi Arabia and the UAE this year, Investor Relations Director Menna Shams El Din tells Al Mal. The company will also begin exporting packaged snacks to Morocco after Ramadan, she adds. Edita is building a new factory in Morocco under a partnership with Dislog Group, which should begin operating […]

Kuwait Energy looks to spin-off Egyptian assets: Kuwait Energy has hired investment bank Perella Weinberg Partners to advise on possibly divesting its stakes in Egypt and Iraq, sources close to the matter tell Reuters. Plans include spinning off Egypt assets that include interests in four oil and gas fields, including the Abu Sennan concession. Kuwait […]

Emaar Misr’s dispute with El Nasr over Uptown Cairo land isn’t over: State-owned El Nasr Housing and Reconstruction reportedly plans to proceed with the arbitration suit it filed last July against Emaar Misr, which alleges that the latter owes it EGP 1 bn and 3 mn sqm of land in Mokattam. This comes despite reports […]

EXCLUSIVE- Egypt and Sudan will sign contracts to connect their electricity grid in two weeks’ time. The next milestone on our march toward becoming a regional energy hub will see Egypt and Sudan sign in two weeks’ time contracts to connect their electricity grids, Electricity Holding Company head Gaber El Desouky tells Enterprise. The holding […]