{"id":545827,"date":"2022-04-13T04:04:33","date_gmt":"2022-04-13T04:04:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/"},"modified":"2022-04-13T04:04:33","modified_gmt":"2022-04-13T04:04:33","slug":"investor-acquired-7-5-of-sinai-cement-in-march","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/","title":{"rendered":"Investor acquired 7.5% of Sinai Cement in March"},"content":{"rendered":"

<\/a> Investor acquired 7.5% of Sinai Cement amid Vicat dispute settlement:<\/strong> The settlement of the dispute between Sinai Cement\u2019s parent company and the Egyptian government paved the way for an investor to acquire a 7.5% stake in the firm, four years after the purchase took place, Enterprise has learned. The 10 mn shares bought by Asmaa Amer Gharib back in 2018 were frozen after the government allegedly tried to force the French cement producer Vicat to sell its majority stake, and were only unfrozen last month when the two sides settled the ownership dispute<\/a>. No details on the settlement were publicly disclosed.<\/p>\n

The details:<\/strong> Gharib acquired 9.98 mn shares of Sinai Cement on 20 March at an average price of EGP 10 each, according to an EGX disclosure (pdf)<\/a> filed Monday. Vicat and the government signed the settlement agreement a day later. Gharib has no public profile that we can ascertain.<\/p>\n

Vicat is now mounting a takeover bid:<\/strong> A mandatory tender offer submitted by Vicat for another 42.1% of Sinai Cement at EGP 6.74 per share got underway on Sunday<\/a>. The subscription period will finish on 21 April. Vicat owned some 56.2% of Sinai Cement as of the end of 2021, according to the company\u2019s latest financials.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investor acquired 7.5% of Sinai Cement amid Vicat dispute settlement: The settlement of the dispute between Sinai Cement\u2019s parent company and the Egyptian government paved the way for an investor to acquire a 7.5% stake in the firm, four years after the purchase took place, Enterprise has learned. The 10 mn shares bought by Asmaa […]<\/p>\n","protected":false},"author":1,"featured_media":545828,"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":[957,72,7128,1420,1698],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-dispute-watch","tag-enterpriseam","tag-ma-watch","tag-sinai-cement","tag-vicat-egypt","wpautop","entry"],"acf":{"mongo_id":"e71f8287-a569-4ca4-a168-bc196d9c9286","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/230.jpg","photo_position":"above","related_issue":[545814],"teaser":"","voice_url":""},"yoast_head":"\nInvestor acquired 7.5% of Sinai Cement in March - 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\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investor acquired 7.5% of Sinai Cement in March\" \/>\n<meta property=\"og:description\" content=\"Investor acquired 7.5% of Sinai Cement amid Vicat dispute settlement: The settlement of the dispute between Sinai Cement\u2019s parent company and the Egyptian government paved the way for an investor to acquire a 7.5% stake in the firm, four years after the purchase took place, Enterprise has learned. The 10 mn shares bought by Asmaa […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-13T04:04:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/230.jpg?fit=%2C&ssl=1\" \/>\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\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Investor acquired 7.5% of Sinai Cement in March\",\"datePublished\":\"2022-04-13T04:04:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\"},\"wordCount\":203,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/4\/230.jpg?fit=%2C&ssl=1\",\"keywords\":[\"dispute watch\",\"EnterpriseAM\",\"M&A Watch\",\"Sinai Cement\",\"Vicat Egypt\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/13\/investor-acquired-7-5-of-sinai-cement-in-march\/\",\"name\":\"Investor acquired 7.5% of Sinai Cement in March - 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The transaction \u2014 worth around EGP 378 mn by our math \u2014 would bring Vicat\u2019s stake in 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\/4\/197.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544812,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/govt-settles-cement-dispute-with-vicat\/","url_meta":{"origin":545827,"position":1},"title":"Gov\u2019t settles cement dispute with Vicat","author":"enterpriseam admin","date":"22 March 2022","format":false,"excerpt":"French cement producer Vicat Group and the Egyptian government have reached a final settlement in a dispute over ownership of its Sinai-based subsidiary. An agreement was signed yesterday by Vicat CEO Guy Sidos and International Cooperation Minister Rania Al Mashat, the cabinet said in a statement. 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