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IPO WATCH- Green Valley Group is looking to list on the EGX in the upcoming period, Chairman Sayed El Sammak told Al Mal. Green Valley plants, processes, and exports peanuts and owns agricultural, cleaning and sizing, processing, financial, and trading subsidiaries. There is no exact date for the planned listing, but El Sammak says it […]
Author Archives: enterpriseam admin
Posted inSpeed Round
EFSA greenlights Cleopatra Hospital acquisition of 46.23% of Cairo Specialized Hospital
M&A Watch- The Egyptian Financial Supervisory Authority (EFSA) greenlit Cleopatra Hospital’s acquisition of 46.32% of Cairo Specialized Hospital on Sunday, Al Mal reports. The transaction will bring Cleopatra’s total holdings in Cairo Specialized Hospital to 99.04% from 52.72% today.
Posted inSpeed Round
Qalaa Holdings sells stake in ASEC Cement Algeria for USD 60 mn
M&A Watch- Qalaa Holdings announced it completed the sale of 100% of its stake in ASEC Cement Algeria to an unnamed Algerian investor for an estimated USD 60 mn. Qalaa Holdings says it indirectly owned 37% of ASEC Cement Algeria’s shares.
Posted inSpeed Round
Shalakany advises Engie on E&P asset sale in Egypt
M&A Watch- Shalakany Law announced it assisted Engie as the sole sell side legal advisor in the transaction to sell its Egyptian E&P assets to Neptune Oil & Gas. Private equity-backed Neptune had agreed to acquire a majority stake in Engie’s E&P assets globally for USD 3.9 bn on Thursday, Reuters reported, with the expectation […]
Posted inSpeed Round
Earnings Watch: GB Auto, MNHD, Oriental Weavers, Amer Group, Porto Group
EARNINGS WATCH- GB Auto swung to a net loss of EGP 154.5 mn on revenues of EGP 2.96 bn in 1Q17 compared a net profit of EGP 28.6 mn a year ago. GB Auto CEO Raouf Ghabbour said that while the market was paralyzed during January and February, “March gave us a sign that consumers […]
Posted inSpeed Round
El Sisi talks politics, economics + takes audience questions
President Abdel Fattah El Sisi addressed a range of economic and political issues yesterday and took questions from audience members as he inaugurated yesterday development projects in Qena. El Sisi reiterated the importance of pressing ahead with economic reforms such as the EGP float and the introduction of new taxes and said the short-term difficulties […]
Posted inSpeed Round
Canadian Embassy in Cairo denies changes in refugee policy for Egypt
The Canadian Embassy in Cairo issued a statement yesterday denying changes to Canada’s policy on refugee protection claims from Egypt and other countries, saying the information is “fake and inaccurate.” The embassy’s statement comes after a policy announcement on what appears to as to be the legitimate site of the Immigration and Refugee Board of […]
Posted inImage of the Day
Are the Stanley cabins in Alexandria getting a facelift or being torn down?
Are the Stanley cabins in Alexandria getting a facelift or being torn down? Citizens of Alexandria are up in arms as rumors circulate that the state is tearing down the old Stanley cabins in Alexandria. Images of the broken-down cabins went viral on social media platforms on Sunday, but authorities maintain that they’re simply performing […]
Posted inEGYPT IN THE NEWS
It’s all about the mummies on 15 May 2017
On a slow news morning for Egypt in the foreign and domestic press alike, it’s all about the mummies. Everyone from NPR to the Daily Mail (both of them have excellent photos) is running with the story, and it beats the heck out of the terrorism / human rights / whatever it is story du […]
Posted inOn Deadline
Official promises and announcements need follow-up
If President Abdel Fattah El Sisi needs one thing, it’s a body whose sole mandate is to follow up on his directions and the government’s promises, Seliman Gouda says in a column penned for Al Masry Al Youm. El Sisi often orders officials to take action on certain issues, but there’s an accountability gap when […]