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French Foreign Minister Jean-Yves Le Drian is arriving in Cairo today for talks with President Abdel Fattah El Sisi, Foreign Minister Sameh Shoukry, and Defense Minister Sedki Sobhi, Al Masry Al Youm reports. Expect the situation with Qatar to be rather near the top of the agenda. The M&A battle of the year heated up […]
Author Archives: enterpriseam admin
Posted inEnterprise+: Last Night’s Talk Shows
Land reclamation explored on CBC Extra News
With Amr Adib off the airwaves last night, CBC’s Extra News was the only other show to offer anything of substance — mainly on the issue of land reclamation. The government processing over 17,000 requests from people and companies who want to acquire (or re-acquire) some of the 1.7 mn feddans of state land reclaimed […]
Posted inSpeed Round
Cairo Three A trumps ADM’s bid for the National Company for Maize Products
M&A WATCH- The year’s hottest bidding war is still going strong, with Cairo Three A Group presenting a mandatory tender offer to acquire National Company for Maize Products (NCMP) at EGP 45 per share, according to Al Borsa (or check out the official word from EFSA in pdf). That trumps an earlier bid of EGP […]
Posted inSpeed Round
Modern Waterproofing Company management’s submit offer to buy company
M&A WATCH- The Modern Waterproofing Company’s management team is seeking regulatory approval from the Egyptian Financial Supervisory Authority to acquire 100% of the company. The offer is priced at the fair value assessment of between EGP 0.73 and EGP 0.80 per share, according to an EGX filing. With 119 mn shares in play, that would […]
Posted inSpeed Round
BPE Partners looks to September or October IPO window
IPO WATCH- Our friends at BPE Partners could list on the EGX in September or October. That’s according to Al Borsa’s coverage of remarks by Chief Investment Officer Abdel-Monem Omran yesterday. The company will be looking to raise fresh capital through its initial public offering and had said last year that it would be offering […]
Posted inSpeed Round
TCV to invest in unnamed agricultural exporter
INVESTMENT WATCH- The nice people at Tanmiya Capital Ventures (TCV) will announce next week an investment in an unnamed agriculture company, managing partner Youssef Ayoub tells Al Borsa. Ayoub did not disclose the size of the investment, but said the company exports c. 70% of its annual production. TCV intends to invest USD 12 mn […]
Posted inSpeed Round
Numu Capital invests in social video analytics platform Mintrics
INVESTMENT WATCH- Dubai-based Numu Capital is investing an unspecified sum in social video analytics dashboard Mintrics, Numu said in a statement (pdf) without giving further details of the transaction. Mintrics was founded about a year ago by Egyptian tech veterans Tarek Nasr and Tarek Shalaby and provides detailed analytics on videos posted to Facebook, YouTube, […]
Posted inSpeed Round
Vezeeta becomes Endeavor Catalysts’ first investment in Egypt
INVESTMENT WATCH- Healthcare startup Vezeeta has landed a USD 500k investment from Endeavor Catalysts, marking the first investment in Egypt by the entrepreneurship network’s co-investing arm, the group said in a recent email. Vezeeta, which recently closed a USD 10.5 mn funding round after raising USD 5 mn in a series ‘C,’ provides online booking […]
Posted inSpeed Round
Arqaam partners with Marco Polo to extend opportunities in Egypt to US-based investors
Arqaam Capital is partnering with Marco Polo Securities to serve US-based institutional investors seeking to capture growing investment opportunities in Egypt, the company said in a statement yesterday (pdf). The Marco Polo platform “enables the global trading of exchange listed securities as well as international distribution of locally originated private placements and M&A products.” Arqaam […]