Author Archives: enterpriseam admin

M&A WATCH- Saudi’s Elaj Group is on a tear. Fresh off its acquisition of 74% of clinical laboratory group Cairo Labs, the group has reportedly acquired a 15% stake in the International Eye Hospital, buying out a group of doctors’ stakes in the facility, sources tell Al Borsa. The value of the purchase was not […]

INVESTMENT WATCH- TCV closes second growth capital transaction in food additives provider Misr Food Investment: Egypt’s TCV (formerly Tanmiya Capital Ventures) announced in a release yesterday (pdf) that its mid-cap investment fund TCV1 has closed its second growth capital transaction in food additives provider Misr Food Investment. TCV announced it is bringing on industry veterans […]

The push for renewables continues: Our friends at BPE Partners announced yesterday (pdf) that it reached financial close alongside Egypt’s Infinity Solar and Germany’s Ib Vogt gmbH on three solar power plants with a combined production capacity of 130 MW in Benban at a total cost of USD 190 mn. Both the EBRD and IFC […]

EFG Hermes Leasing has entered into a cooperation agreement with Philips Egypt to provide tailored leasing solutions for healthcare professionals in private practice, start-ups, SMEs, and hospitals. “Egypt’s growing population and low rates of insurance coverage have created opportunities for healthcare start-ups and expansion potential for existing players. The vendor cooperation program between EFG Hermes […]

Bavarian Automotive is going to invest EUR 3 mn in its Sixth of October plant to assemble BMW cars, Al Mal reports. The company is finishing feasibility studies on assembling BMW 5- and 7-series vehicles. Bavarian Automotive also noted that its plants are running at 45% capacity at the moment.

The Trade and Industry Ministry launched its investment map of some 4,136 projectsup for grabs in eight sectors at a conference on Tuesday. Most of the projects appear to be in equipment and engineering manufacturing with 1,265 projects, followed by chemical industries with 861 projects. The map is also promoting 649 food industry projects, 605 […]

Ukraine’s Foreign Ministry issued a travel warning advising citizens against visiting Egypt during the state of emergency, according to Ukrinform. "The security situation in Egypt remains complicated," the ministry's Twitter statement reads. The warning comes as Egypt has ostensibly seen a spike in Ukrainian tourists visiting the country, with their numbers growing 120% y-o-y in […]

IPO WATCH- Emaar IPO could price at 10-20% premium: The upcoming listing of Emaar Properties’ UAE-based development arm could see the company offer shares at a 10-20% premium to the unit’s net asset value, sources close to the matter tell Bloomberg. The move appears to accommodate the target aggregate dividend of USD 1.7 bn (to […]

Qatar and the US have agreed to enhance cooperation on counterterrorism “to crack down on illicit financing of militant groups,” a joint statement picked up by Reuters says. The agreement followed US Treasury Secretary Steven Mnuchin’s stop in Doha on Monday, at the end of a week-long Middle East tour that took him to Saudi, […]