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M&A WATCH- Mondi Paper Sales applied for Financial Regulatory Authority (FRA) approval of a mandatory tender offer to acquire the remaining 70.1% stake in Suez Bags, according to a FRA statement on Sunday (pdf). Mondi plans to acquire 7.7 mn shares for for EGP 26.01 per share, valuing the transaction at EGP 199.4 mn. FRA […]
Author Archives: enterpriseam admin
Posted inSpeed Round
NIB sends proposes addition of 13 companies to state’s IPO program
IPO WATCH- NIB proposes 13 new companies take part in state IPO program: The National Investment Bank (NIB) has sent the Finance Ministry a list of 13 of its subsidiaries that it is looking to enroll in the state’s IPO program, Planning Minister Hala El Said this week, according to Al Borsa. The minister did […]
Posted inSpeed Round
Abdul Latif Jameel not taking part in 600 MW PV plant tender
UPDATE-Abdul Latif Jameel not taking part in 600 MW PV plant tender—here’s the list of who is. We noted an Al Borsa story yesterday on Abdul Latif Jameel bidding on the 600 MW solar power plant in the West Nile area. Sources close to the matter have confirmed to us that the company was not […]
Posted inSpeed Round
Orascom Development announces agreements to sell non-core assets
Orascom Development enters agreements to sell non-core assets, will use proceeds to pay down debt: Orascom Development Egypt (ODE) announced signing two final agreements to sell non-core assets. ODE will sell 100% of its equity stake in Tamweel Group and its stake in Makadi Gardens, Royal Azur and Club Azur, and a land plot in […]
Posted inSpeed Round
McKinsey gets a new global boss
MOVES- McKinsey’s “secretive leadership election process” has seen the world’s largest consulting firm appoint Kevin Sneader as kits new global management partner, the Financial Times reports.
Posted inUncategorized
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Posted inImage of the Day
Suez school awards a fifth-grade student a towel for winning nat’l competition
A towel for your thoughts: A fifth-grade student in Suez learned the hard way that you won’t always get the recognition you deserve for your efforts when his school decided to award him a towel for winning a nationwide competition, according to Youm7. Our guess is the principal grabbed the first thing he found in […]
Posted inEGYPT IN THE NEWS
Egypt is concerned about a shift in Ethiopia’s stance on GERD following Desalegn’s resignation
It is an achingly quiet day (in a nice way) for Egypt in the international press: Egypt is concerned that Ethiopian Prime Minister Hailemariam Desalegn’s resignation will once again stall negotiations over the Grand Ethiopian Renaissance Dam (GERD), Ahmed Megahid writes for The Arab Weekly. “Egypt’s main fear is that radical political change in Ethiopia […]
Posted inOn Deadline
Who’s responsible for tourism promotion in Egypt?
International marketing campaigns alone won’t attract tourists to Egypt, Fathiya El Dakhakhny writes for Al Masry Al Youm. She argues that a true and lasting revival of the country’s ailing tourism sector requires infrastructure projects allowing access to remote archaeological sites, awareness campaigns for citizens and sector employees how to treat tourists, and—most importantly—toning down […]
Posted inWorth watching
Car swallowed in New Cairo landslide
Passersby watched and filmed a car being swallowed in a landslide near Road 90 in New Cairo yesterday, according to videos circulating on social media (watch, runtime: 01:37). The three-meter-deephole was caused by a broken main water pipeline, Youm 7 reports.