Author Archives: enterpriseam admin

Egypt and the World Bank signed yesterday a USD 500 mn loan agreement aimed at supporting the state’s K-12 educational reform strategy. “The five-year project aims to expand access to quality kindergarten for around 500k children, train 500k teachers and education officials, while providing 1.5 mn students and teachers with digital learning resources. In addition, […]

Egypt, EU to sign energy cooperation agreement this week: Egypt and the EU are expected to sign an MoU on "Strategic Cooperation in Energy" this week during EU Energy Commissioner Miguel Arias Cañete’s three-day visit to Cairo, which begins today. It’s unclear when exactly the signing will take place and what the agreement will entail. […]

Egypt, EU to sign cooperation agreements at the end of the month during Mogherini visit: Egypt is set to sign a number of agreements with the European Union at the end of the month, during EU foreign policy chief Federica Mogherini’s visit to Cairo on 30 April, which should see both sides cooperate on various […]

IPO WATCH- CI Capital IPO’s institutional offering 6.1x oversubscribed, share priced in at EGP 7.70, trading to begin on 30 April: CI Capital announced yesterday (pdf) that it has successfully concluded the bookbuilding process for its initial public offering, which it is pricing at EGP 7.70 per share. The company — which is hoping to […]

INVESTMENT WATCH- Carbon Holdings aims to reach financial close on its USD 10.6 bn Tahrir petrochemicals complex by year’s end, CEO Basil El Baz says. Carbon Holdings is covering 26% of the project’s cost, with the remainder set to be funded by development finance institutions from the US, Germany, and the UK. Tahrir Petrochemicals will […]

M&A WATCH- Bloomberg was out on Thursday with a piece suggesting that SODIC and MNHD have “reached an initial understanding on a tie-up that would create one of the biggest private property developers in the country,” adding that, “we reached out to both companies and were told there’s nothing new. EFG Hermes is advising MNHD, […]

M&A WATCH- New York-based private equity firm Yorktown Partners is planning to sell its Egypt-focused oil and gas producer Merlon International to raise USD 400 mn, banking sources tell Reuters. Citigroup is managing the process, which is expected to be finalized by July. All of Merlon’s oil and gas assets are located within the Fayoum […]

INVESTMENT WATCH- Canada-based Amel Group is planning to set up a USD 250 mn glass production facility using silica sand in the Suez Canal Economic Zone (SCZone), Al Shorouk reports. The company is looking for partners for the project and is in talks with SCZone officials to hammer out a timeline. The facility is expected […]

INVESTMENT WATCH- Pioneers Holdings is planning to invest EGP 2.9 bn “in a variety of sectors” this year, according to an EGX disclosure (pdf). The investments will be financed partially through EGP 1.8 bn in divestments, including a partial exit from Rooya Real Estate Investment Company and other ventures. Pioneers had previously announced its intention […]