{"id":545633,"date":"2022-04-06T04:04:56","date_gmt":"2022-04-06T04:04:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/expedition-gets-green-light-to-do-dd-on-domty-as-part-of-acquisition-bid-nagatys-pie-acquires-business-sale-website-exits\/"},"modified":"2022-04-06T04:04:56","modified_gmt":"2022-04-06T04:04:56","slug":"expedition-gets-green-light-to-do-dd-on-domty-as-part-of-acquisition-bid-nagatys-pie-acquires-business-sale-website-exits","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/06\/expedition-gets-green-light-to-do-dd-on-domty-as-part-of-acquisition-bid-nagatys-pie-acquires-business-sale-website-exits\/","title":{"rendered":"Expedition gets green light to do DD on Domty as part of acquisition bid + Nagaty\u2019s Pie acquires business-sale website Exits"},"content":{"rendered":"

<\/a> Expedition cleared for DD on Domty:<\/strong> Domty\u2019s board of directors has given Expedition Investments the all-clear to start due diligence in connection with Expedition\u2019s bid for control of the company, the EGX-listed cheese maker said in a regulatory filing (pdf)<\/a> yesterday.<\/p>\n

The bid:<\/strong> Expedition is looking to acquire up to 90% of the company<\/a> at EGP 5.00 per share in a transaction that values the food producer at more than EGP 1.4 bn, based on our math. This is a 27% premium to its EGP 3.94 closing share price last Thursday, before Expedition\u2019s play was announced. Domty shares are up nearly 15% so far this week and rose 2.7% during yesterday\u2019s trading to close at EGP 4.52.<\/p>\n

The bidder:<\/strong> Expedition Investments is an offshore SPV controlled by unknown investors in Egypt and the Gulf. Domty Chairman and MD Omar El Damaty and Vice Chairman Mohamed El Damaty hold stakes in Expedition and did not take part in this week\u2019s board vote. The company is domiciled in Mauritius and counts veteran investment banker Mohamed El Akhdar as a board member.<\/p>\n

New M&A advisory shop Pie acquires business marketplace Exits<\/p>\n

Newly-launched Cairo-based M&A advisory outfit <\/strong>Pie Consulting<\/a><\/strong> has acquired <\/strong>Exits<\/a><\/strong>, a regional online marketplace for buying and selling apps, websites and other firms, it said in a press release<\/a> Monday, without disclosing the value of the transaction.<\/p>\n

This is the first we\u2019ve heard of Pie<\/strong>, which aims to address what it says is a gap in the M&A advisory market for startups and SMEs looking to bring in investors. The firm was set up six weeks ago by Mohamed Aboulnaga<\/strong> (LinkedIn<\/a>), co-founder and CEO of Egypt-based fintech Klivvr and co-founder of Halan (now MNT\u2013Halan), he told Enterprise. Aboulnaga aims with PIE to \u201cbuild a MicroAcquire in the Middle East,\u201d he said. MicroAcquire<\/a> is a Silicon Valley startup acquisition marketplace that connects investors with potential targets.<\/p>\n

Pie has already been busy:<\/strong> The firm has advised on a merger in the tech sector and an acquisition in e-commerce, he told us, adding that an announcement on the transactions will be made soon. Their pipeline of mandates include acting as sell-side advisor for three firms operating in mobility, on-demand service and e-commerce, and working on the buy-side for a Gulf company on the lookout for an acquisition in Egypt, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Expedition cleared for DD on Domty: Domty\u2019s board of directors has given Expedition Investments the all-clear to start due diligence in connection with Expedition\u2019s bid for control of the company, the EGX-listed cheese maker said in a regulatory filing (pdf) yesterday. The bid: Expedition is looking to acquire up to 90% of the company at […]<\/p>\n","protected":false},"author":1,"featured_media":545634,"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":[1598,72,1623,7128,1624],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-domty","tag-enterpriseam","tag-expedition-investments","tag-ma-watch","tag-pie","wpautop","entry"],"acf":{"mongo_id":"00603e3e-a806-4507-8732-0ee293997ffc","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/139.png","photo_position":"above","related_issue":[545625],"teaser":"","voice_url":""},"yoast_head":"\nExpedition gets green light to do DD on Domty as part of acquisition bid + Nagaty\u2019s Pie acquires business-sale website Exits - 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\/04\/06\/expedition-gets-green-light-to-do-dd-on-domty-as-part-of-acquisition-bid-nagatys-pie-acquires-business-sale-website-exits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Expedition gets green light to do DD on Domty as part of acquisition bid + Nagaty\u2019s Pie acquires business-sale website Exits\" \/>\n<meta property=\"og:description\" content=\"Expedition cleared for DD on Domty: Domty\u2019s board of directors has given Expedition Investments the all-clear to start due diligence in connection with Expedition\u2019s bid for control of the company, the EGX-listed cheese maker said in a regulatory filing (pdf) yesterday. 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That\u2019s 97% of the 96.2 mn shares the\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\/228.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548669,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/17\/expedition-investments-bid-for-domty-gets-fra-approval\/","url_meta":{"origin":545633,"position":1},"title":"Expedition Investments\u2019 bid for Domty gets FRA approval","author":"enterpriseam admin","date":"17 August 2022","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has greenlit Expedition Investments\u2019 bid to acquire a 34% stake in cheesemaker Domty, the regulator said in a disclosure (pdf) yesterday. A consortium led by Expedition has offered to purchase up to 96.2 mn shares for EGP 5 a piece in a mandatory tender offer,\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\/8\/292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549272,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/expedition-investments-ups-by-10-what-its-willing-to-pay-for-domty\/","url_meta":{"origin":545633,"position":2},"title":"Expedition Investments ups by 10% what it\u2019s willing to pay for Domty","author":"enterpriseam admin","date":"11 September 2022","format":false,"excerpt":"Domty shareholders will get a little more for selling to Expedition Investments: The Expedition Investments-led consortium bidding to acquire 34% of cheesemaker Domty has upped its offer by 10% on the heels of a fair value study that suggested the bid had undervalued the company. The consortium is now offering\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\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549197,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/expeditions-offer-undervalues-cheese-maker-domty-by-38-fair-value-study-suggests\/","url_meta":{"origin":545633,"position":3},"title":"Expedition\u2019s offer undervalues cheese maker Domty by 38%, fair value study suggests","author":"enterpriseam admin","date":"7 September 2022","format":false,"excerpt":"BDO has valued Domty at EGP 6.90 per share \u2014 38% higher than the price that the Expedition Investments-led consortium is offering shareholders in its ongoing mandatory tender offer, the cheesemaker said in an EGX disclosure (pdf) yesterday.REFRESHER- Shareholders have until 14 September to sell their holdings to the consortium,\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\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547702,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/04\/expedition-investments-submits-bid-for-34-stake-in-domty\/","url_meta":{"origin":545633,"position":4},"title":"Expedition Investments submits bid for 34% stake in Domty","author":"enterpriseam admin","date":"4 July 2022","format":false,"excerpt":"Expedition Investments has submitted an official bid to acquire a 34% stake in cheesemaker Domty, the Financial Regulatory Authority (FRA) said in a disclosure to the EGX(pdf) yesterday. The consortium has offered to purchase up to 96.2 mn shares for EGP 5 a piece in a mandatory tender offer, the\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\/7\/105.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548709,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/18\/domty-shareholders-have-four-weeks-to-sell-stakes-to-expedition\/","url_meta":{"origin":545633,"position":5},"title":"Domty shareholders have four weeks to sell stakes to Expedition","author":"enterpriseam admin","date":"18 August 2022","format":false,"excerpt":"Subscription for Expedition Investment\u2019s bid for a chunk of Domty kicks off today. Shareholders in cheesemaker Domty have until Wednesday, 14 September to sell their shares to Expedition Investments, as part of its mandatory tender offer (MTO) for 34% of the company, according to the timeline set by the EGX\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\/8\/315.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\/545633","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=545633"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545633\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545625"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545634"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545633"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545633"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}