{"id":545021,"date":"2022-03-31T04:00:49","date_gmt":"2022-03-31T04:00:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/31\/national-bank-of-egypt-ups-stake-in-fawry-is-a-stake-sale-to-adq-next\/"},"modified":"2022-03-31T04:00:49","modified_gmt":"2022-03-31T04:00:49","slug":"national-bank-of-egypt-ups-stake-in-fawry-is-a-stake-sale-to-adq-next","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/31\/national-bank-of-egypt-ups-stake-in-fawry-is-a-stake-sale-to-adq-next\/","title":{"rendered":"National Bank of Egypt ups stake in Fawry \u2014 is a stake sale to ADQ next?"},"content":{"rendered":"

<\/a> Another state-owned bank appears to have just bought a chunk of Fawry, <\/strong>likely setting up the sale of the government-controlled stake to Abu Dhabi\u2019s ADQ<\/strong>.<\/strong> The National Bank of Egypt (NBE) has upped its stake in Fawry, less than a week after Banque Misr more than doubled its holdings in the fintech firm. The EGX-listed company announced<\/a> yesterday that stakes totalling 6% of the company\u2019s shares had changed hands and been acquired by an unnamed investor. Consensus in the press is that the buyer was the National Bank of Egypt (see: Bloomberg Asharq<\/a>, Hapi Journal<\/a>, Al Mal<\/a>, and Al Shorouk<\/a>). A top NBE official declined to confirm or deny the news when we asked yesterday.<\/p>\n

Running the numbers:<\/strong> The state-owned bank paid more than EGP 1 bn in a block transaction, handing it some 102.5 mn shares at EGP 10.25 apiece. This raised its total stake in the company to 12.25%, making it the second-biggest shareholder after Banque Misr.<\/p>\n

Who\u2019s selling?<\/strong> The sellers were international investors, including Link Holdco and Black Sparrow Long Term Investments (which Fawry has previously said was controlled by FIM Partners), Asharq reported, citing sources with knowledge of the matter.<\/p>\n

This would be the second state-owned bank to purchase shares in the fintech darling in the past week: <\/strong>Banque Misr last week purchased an 8.85%<\/a> stake in a EGP 1.47 bn transaction, upping its ownership to 15.8%. Between them, the banks now own more than 28% of the company, up from around 13.2%.<\/p>\n

All the more to sell to ADQ<\/strong>, which will reportedly purchase an undisclosed stake in the company as part of a USD 2 bn investment<\/a> agreed earlier this month to shore up Egypt\u2019s finances as its balance of payments comes under pressure from rising commodity prices. The Abu Dhabi wealth fund will acquire government-owned stakes in five EGX-listed firms<\/a> including leading private sector bank CIB, Abu Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling.<\/p>\n","protected":false},"excerpt":{"rendered":"

Another state-owned bank appears to have just bought a chunk of Fawry, likely setting up the sale of the government-controlled stake to Abu Dhabi\u2019s ADQ. The National Bank of Egypt (NBE) has upped its stake in Fawry, less than a week after Banque Misr more than doubled its holdings in the fintech firm. The EGX-listed […]<\/p>\n","protected":false},"author":1,"featured_media":545022,"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":[299,576,68,72,519,183,7128,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adq","tag-banque-misr","tag-egx","tag-enterpriseam","tag-fawry","tag-fintech","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"c80e14b3-44bf-40c4-b132-ed65897ac74e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/711.jpg","photo_position":"above","related_issue":[545015],"teaser":"","voice_url":""},"yoast_head":"\nNational Bank of Egypt ups stake in Fawry \u2014 is a stake sale to ADQ next? - 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\/31\/national-bank-of-egypt-ups-stake-in-fawry-is-a-stake-sale-to-adq-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Bank of Egypt ups stake in Fawry \u2014 is a stake sale to ADQ next?\" \/>\n<meta property=\"og:description\" content=\"Another state-owned bank appears to have just bought a chunk of Fawry, likely setting up the sale of the government-controlled stake to Abu Dhabi\u2019s ADQ. 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Bloomberg\u2019s source did not disclose further details on how much the government has agreed to sell or 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\/2022\/3\/339.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545818,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/adq-makes-grand-entry-into-the-egx-with-usd-1-8-bn-buy-launches-first-mena-spac-with-chimera\/","url_meta":{"origin":545021,"position":1},"title":"ADQ makes grand entry into the EGX with USD 1.8 bn buy + launches first MENA SPAC with Chimera","author":"enterpriseam admin","date":"13 April 2022","format":false,"excerpt":"Abu Dhabi wealth fund ADQ acquired state-owned stakes in five EGX-listed companies yesterday as part of an agreement reached last month to provide Egypt with emergency liquidity as we grapple with fallout from Russia\u2019s war in Ukraine. The fund purchased shares in CIB, Fawry, Abu Qir Fertilizers, Mopco, and Alexandria\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\/4\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573382,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/04\/efg-closes-sale-of-7-stake-in-egypts-fawry-for-usd-50-mn\/","url_meta":{"origin":545021,"position":2},"title":"EFG closes sale of 7% stake in Egypt\u2019s Fawry for USD 50 mn","author":"enterpriseam admin","date":"4 August 2020","format":false,"excerpt":"INVESTMENT WATCH- EFG closes USD 50 mn sale of c.7% stake in Fawry: EFG Hermes closed last week the sale by existing shareholders of a combined c. 7% stake (50 mn shares) in EGX-listed e-payment company Fawry in a transaction worth USD 50 mn, according to a statement (pdf). The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545715,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/10\/adq-could-buy-up-national-investment-banks-entire-stake-in-abu-qir\/","url_meta":{"origin":545021,"position":3},"title":"ADQ could buy up National Investment Bank\u2019s entire stake in Abu Qir","author":"enterpriseam admin","date":"10 April 2022","format":false,"excerpt":"Abu Dhabi wealth fund ADQ is on course to acquire the National Investment Bank\u2019s (NIB) entire 21.5% stake in Abu Qir Fertilizers as part of its USD 2 bn investment in Egypt, sources told Bloomberg Asharq, without disclosing the value of the sale. A senior exec at NIB would neither\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573345,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/29\/shareholders-look-to-sell-c-7-stake-in-fawry\/","url_meta":{"origin":545021,"position":4},"title":"Shareholders look to sell c. 7% stake in Fawry","author":"enterpriseam admin","date":"29 July 2020","format":false,"excerpt":"Shareholders look to sell 7% stake in Fawry: A group of shareholders are looking to sell a combined stake of c. 7% (50 mn shares) in EGX-listed e-payment company Fawry, a source with knowledge of the transaction told Enterprise. Selling shareholders include the Egyptian American Enterprise Fund (EAEF), the International\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545361,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/this-evening-is-adq-acquiring-stakes-in-abu-qir-fertilizers-mopco-and-alexandria-container-cargo-handling-banque-misr-purchases-8-85-stake-in-fawry\/","url_meta":{"origin":545021,"position":5},"title":"THIS EVENING: Is ADQ acquiring stakes in Abu Qir Fertilizers, Mopco, and Alexandria Container & Cargo Handling? + Banque Misr purchases 8.85% stake in Fawry","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"It\u2019s another busy news day on all fronts as we sprint to the weekly finish line, ladies and gentlemen, with stake sales and investments topping headlines locally, and ongoing global energy concerns leading headlines abroad. THE BIG STORY TODAY#1- BREAKING- Abu Dhabi wealth fund ADQ is reportedly acquiring unspecified state-held\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545021","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=545021"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545021\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545022"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545021"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545021"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}