{"id":544776,"date":"2022-03-21T04:00:15","date_gmt":"2022-03-21T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/"},"modified":"2022-03-21T04:00:15","modified_gmt":"2022-03-21T04:00:15","slug":"fab-eyes-gb-lease-takeover","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/","title":{"rendered":"FAB eyes GB Lease takeover"},"content":{"rendered":"

<\/a> F<\/strong>irst Abu Dhabi Bank (FAB) is in advanced talks with GB Auto to acquire 100% of<\/strong> its leasing arm GB Lease<\/strong>, Al Shorouk<\/a> reported Saturday, citing sources familiar with the discussions. The two sides have not yet settled on a valuation but an agreement is supposed to be finalized some time during 2H 2022, the sources claimed.<\/p>\n

No agreement yet:<\/strong> GB Auto has not entered any \u201cdefinitive agreements\u201d on a stake sale in subsidiary GB Lease, it said in an EGX disclosure (pdf)<\/a> yesterday.<\/p>\n

FAB on a buying spree:<\/strong> The Gulf lender recently made an offer<\/a> to buy a majority stake in leading frontier emerging markets financial services corporation EFG Hermes as part of its wider plans for regional expansion.<\/p>\n

IN OTHER M&A NEWS-<\/strong><\/p>\n

Pal<\/strong>m Hills Developments (PHD) has upped its stake in Incolease for the second <\/strong>this month<\/strong>, purchasing a 5.76% stake in the company for EGP 47 mn, according to an EGX disclosure (pdf)<\/a>. The company now owns 15.36% of Incolease after it bought more than 1.1 mn shares at EGP 41 apiece. The transaction comes less than two weeks after PHD purchased a 7.97% stake<\/a> in the company for EGP 65.4 mn. El Tarek Automotive also acquired a 23% stake in Incolease in an EGP 189 mn transaction earlier this month.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First Abu Dhabi Bank (FAB) is in advanced talks with GB Auto to acquire 100% of its leasing arm GB Lease, Al Shorouk reported Saturday, citing sources familiar with the discussions. The two sides have not yet settled on a valuation but an agreement is supposed to be finalized some time during 2H 2022, the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[204,72,882,241,243,1319,242,7128,354],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544776","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-banking","tag-enterpriseam","tag-first-abu-dhabi-bank","tag-gb-auto","tag-gb-lease","tag-incolease","tag-leasing","tag-ma-watch","tag-palm-hills-developments","wpautop","entry"],"acf":{"mongo_id":"643d3ff9-66cc-44a3-99c9-d7af93f5fe02","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[544768],"teaser":"","voice_url":""},"yoast_head":"\nFAB eyes GB Lease takeover - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAB eyes GB Lease takeover\" \/>\n<meta property=\"og:description\" content=\"First Abu Dhabi Bank (FAB) is in advanced talks with GB Auto to acquire 100% of its leasing arm GB Lease, Al Shorouk reported Saturday, citing sources familiar with the discussions. The two sides have not yet settled on a valuation but an agreement is supposed to be finalized some time during 2H 2022, the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-21T04:00:15+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FAB eyes GB Lease takeover\",\"datePublished\":\"2022-03-21T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\"},\"wordCount\":211,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"EnterpriseAM\",\"First Abu Dhabi Bank\",\"GB Auto\",\"GB Lease\",\"Incolease\",\"leasing\",\"M&A Watch\",\"Palm Hills Developments\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\",\"name\":\"FAB eyes GB Lease takeover - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2022-03-21T04:00:15+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FAB eyes GB Lease takeover\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"FAB eyes GB Lease takeover - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/fab-eyes-gb-lease-takeover\/","og_locale":"en_US","og_type":"article","og_title":"FAB eyes GB Lease takeover","og_description":"First Abu Dhabi Bank (FAB) is in advanced talks with GB Auto to acquire 100% of its leasing arm GB Lease, Al Shorouk reported Saturday, citing sources familiar with the discussions. 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GB Capital will retain the remaining\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/418.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578992,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/gb-capital-sells-a-45-stake-in-gb-lease-to-chimera-investments\/","url_meta":{"origin":544776,"position":1},"title":"GB Capital sells a 45% stake in GB Lease to Chimera Investments","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"It\u2019s official: Chimera to acquire 45% of GB Lease: GB Capital has finalized an agreement to indirectly sell 45% of its leasing business, GB Lease, to our friends at Chimera Investments for EGP 855 mn, parent company GB Auto said in an EGX disclosure(pdf) Thursday. This comes two weeks after\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/357.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549232,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/the-uaes-chimera-eyes-gb-autos-leasing-arm\/","url_meta":{"origin":544776,"position":2},"title":"The UAE\u2019s Chimera eyes GB Auto\u2019s leasing arm","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Chimera to take stake in GB Lease? GB Auto subsidiary GB Capital is in talks with our friends at Abu Dhabi-based investment firm Chimera Investments to sell a 45% stake in its leasing arm, GB Lease, the EGX-listed automotive and finance player said yesterday in a regulatory filing (pdf). GB\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578516,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/03\/gb-auto-agrees-to-sell-45-of-its-leasing-business-to-chimera-investments\/","url_meta":{"origin":544776,"position":3},"title":"GB Auto agrees to sell 45% of its leasing business to Chimera Investments","author":"enterpriseam admin","date":"3 January 2023","format":false,"excerpt":"GB Auto approves GB Lease stake sale: GB Auto\u2019s board has approved plans to sell a 45% stake in GB Lease to our friends at Abu Dhabi-based investment firm Chimera Investments for EGP 855 mn, after approving the results of a fair value study (pdf), the company said in an\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/35.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542600,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/05\/gb-leases-returns-to-securitization-market-with-egp-4-3-bn-sale\/","url_meta":{"origin":544776,"position":4},"title":"GB Leases returns to securitization market with EGP 4.3 bn sale","author":"enterpriseam admin","date":"5 January 2022","format":false,"excerpt":"GB Lease has completed the sale of EGP 4.3 bn of securitized bonds to investors, according to a statement (pdf) from CIB, which worked on the transaction. The leasing arm of GB Auto sold the securities in two separate issuances with tranches rated A through AA+. Abu Dhabi Commercial Bank\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/77.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550468,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/mnt-agrees-to-sell-21-7-stake-to-chimera-investments\/","url_meta":{"origin":544776,"position":5},"title":"MNT agrees to sell 21.7% stake to Chimera Investments","author":"enterpriseam admin","date":"30 October 2022","format":false,"excerpt":"Chimera snaps up c.22% of MNT Investments: Netherlands-based MNT Investments \u2014 which is majority-owned by GB Auto subsidiary GB Capital \u2014 agreed to sell a 21.7% stake to a unit of Chimera Investments, GB Auto said in an EGX disclosure (pdf) on Thursday.The sellers: GB Auto is selling a 7.5%\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/370.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544776"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544776\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544768"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544776"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544776"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}