{"id":546610,"date":"2022-05-23T04:00:57","date_gmt":"2022-05-23T04:00:57","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/"},"modified":"2022-05-23T04:00:57","modified_gmt":"2022-05-23T04:00:57","slug":"saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","title":{"rendered":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition"},"content":{"rendered":"

<\/a> Saudi food conglomerate <\/strong>Savola Group<\/a><\/strong> is close to acquiring the Egyptian <\/strong>Belgian Company <\/strong>\u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. Hapi Journal<\/a> had reported that the acquisition would see the company acquire both the manufacturer\u2019s assets and its brand name. Our source was not able to confirm this or disclose an exact timeline for the acquisition.<\/p>\n

This isn\u2019t the first time Ole has been up for grabs: <\/strong>Edita Food Industries was interested in<\/a>acquiring assets<\/a> belonging to the company but talks fell through<\/a> in January after the two sides failed to reach an agreement on valuation.<\/p>\n

Savola has been eyeing acquisitions in Egypt\u2019s food sector for a while: <\/strong>The company said last year that it is considering acquiring food companies in Egypt<\/a>. Savola said at the time that it would target companies who produce items not covered by its existing portfolio.<\/p>\n

Savola is already a big player in our market \u2014 even if it\u2019s not a \u201chousehold name\u201d:<\/strong> The company is behind popular local cooking oil, ghee, pasta, and sugar brands including Rawabi ghee, Afia oils, and El Maleka and Italiano pastas. Its products are sold across the region, including in the Gulf, Sudan, and Turkey. Egypt accounted for about <\/strong>17% of Savola\u2019s revenues <\/strong>in 1Q 2022<\/strong>, according to the company\u2019s investor presentation.<\/p>\n

ADVISORS- <\/strong>Zilla Capital is acting as the Egyptian Belgian Company\u2019s financial advisor, while Al Ahly Pharos is Savola\u2019s financial advisor, our source confirmed.<\/p>\n

\n

OTHER M&A NEWS- Ibnsina Pharma is getting into the hospital business <\/strong>with the acquisition of<\/strong> El Shorouk Hospital<\/a><\/strong> in a transaction worth EGP 430 mn<\/strong>, the company said in a press release<\/a>(pdf)<\/a> yesterday. Ibnsina will pay EGP 200 mn in cash and will settle existing debts owed by the hospital. The statement does not make clear who the seller is. Company representatives did not respond to Enterprise\u2019s request for comment.<\/p>\n

What they\u2019ve bought:<\/strong> Ibnsina will acquire the hospital\u2019s real estate and operational assets, as well as the operating company. The 105-bed hospital serves residents across Shorouk City and neighboring Madinaty, Rehab, Badr City, New Cairo, and East Cairo.<\/p>\n

W<\/strong>hat they said:<\/strong> \u201cThe rollout of the Universal Healthcare plan and the construction of new cities are behind our appetite for further investments in the healthcare sector. Population growth and having more people covered translates into higher demand for healthcare services,\u201d said co-CEO Omar Abdel Gawad.<\/p>\n

Looking ahead: <\/strong>Ibnsina will work on renovating the hospital and installing new equipment by the end of the year. The company has also hired a new team to manage the hospital, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi food conglomerate Savola Group is close to acquiring the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. Hapi Journal had reported that the acquisition would see the company acquire both the manufacturer\u2019s assets and […]<\/p>\n","protected":false},"author":1,"featured_media":546611,"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":[194,72,900,1414,7128,9704,427,219,1920],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-egyptian-belgian-company-for-industrial-investments","tag-enterpriseam","tag-food-and-beverage","tag-ibnsina-pharma","tag-ma-watch","tag-ole","tag-pharma","tag-saudi-arabia","tag-savola-group","wpautop","entry"],"acf":{"mongo_id":"227107d3-df13-449c-87df-c0e0bd129919","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/5\/296.jpg","photo_position":"above","related_issue":[546602],"teaser":"","voice_url":""},"yoast_head":"\nSaudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition - 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\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition\" \/>\n<meta property=\"og:description\" content=\"Saudi food conglomerate Savola Group is close to acquiring the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. Hapi Journal had reported that the acquisition would see the company acquire both the manufacturer\u2019s assets and […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-23T04:00:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition\",\"datePublished\":\"2022-05-23T04:00:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\"},\"wordCount\":461,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Egyptian Belgian Company for Industrial Investments\",\"EnterpriseAM\",\"food and beverage\",\"Ibnsina Pharma\",\"M&A Watch\",\"Ole\",\"pharma\",\"Saudi Arabia\",\"Savola Group\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\",\"name\":\"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-05-23T04:00:57+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition\"}]},{\"@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":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition - 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\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","og_locale":"en_US","og_type":"article","og_title":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition","og_description":"Saudi food conglomerate Savola Group is close to acquiring the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. Hapi Journal had reported that the acquisition would see the company acquire both the manufacturer\u2019s assets and […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-05-23T04:00:57+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition","datePublished":"2022-05-23T04:00:57+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/"},"wordCount":461,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1","keywords":["Egyptian Belgian Company for Industrial Investments","EnterpriseAM","food and beverage","Ibnsina Pharma","M&A Watch","Ole","pharma","Saudi Arabia","Savola Group"],"articleSection":["M&A WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","name":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1","datePublished":"2022-05-23T04:00:57+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition"}]},{"@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\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":547165,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/savola-closes-ole-bakery-acquisition\/","url_meta":{"origin":546610,"position":0},"title":"Savola closes Ole bakery acquisition","author":"enterpriseam admin","date":"12 June 2022","format":false,"excerpt":"The Egyptian Belgian Company has new Saudi owners: Saudi food conglomerate Savola has signed an agreement to acquire 100% of the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 for EGP 622.4 mn, its advisor, Al Ahly Pharos, said in a statement (pdf) Thursday.Savola isn\u2019t new\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\/6\/228.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548891,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/savola-to-invest-egp-1-bn-in-egyptian-belgian-company\/","url_meta":{"origin":546610,"position":1},"title":"Savola to invest EGP 1 bn in Egyptian Belgian Company","author":"enterpriseam admin","date":"25 August 2022","format":false,"excerpt":"Saudi food conglomerate Savola plans to invest over EGP 1 bn in the Egyptian Belgian Company to increase production, CEO Sameh Hassan told CNBC Arabia (watch, runtime: 3:06). The company acquired the maker of Ole-branded baked goods for EGP 622.4 mn in June.Savola has hiked prices aggressively since taking over:\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-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":551035,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/22\/this-evening-fawry-delays-us-listing-indefinitely-saudis-savola-group-nears-egyptian-belgian-company-acquisition-ibnsina-pharma-acquires-el-shorouk-hospital\/","url_meta":{"origin":546610,"position":2},"title":"THIS EVENING: Fawry delays US listing indefinitely + Saudi\u2019s Savola Group nears Egyptian Belgian Company acquisition + Ibnsina Pharma acquires El Shorouk Hospital","author":"enterpriseam admin","date":"22 May 2022","format":false,"excerpt":"Good afternoon, ladies and gentlemen, and welcome to an already-busy start to the workweek. The news cycle is hitting the ground running today, with a handful of happenings in capital markets. THE BIG STORIES TODAY#1- EGX-listed e-payments giant Fawry\u2019s board of directors has decided to delay its US listing due\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":[]},{"id":551324,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/this-evening-cira-confirms-its-future-flow-securitization-plans-savola-closes-ole-bankery-acquisition-plus-inflation-accelerated-again-in-may\/","url_meta":{"origin":546610,"position":3},"title":"THIS EVENING: CIRA confirms its future flow securitization plans + Savola closes Ole Bankery acquisition. Plus: Inflation accelerated again in May","author":"enterpriseam admin","date":"9 June 2022","format":false,"excerpt":"Good afternoon, wonderful people. Pat yourselves on the back for making it through this week, which is going out with a bang with a rather busy Thursday afternoon news flow.THE BIG STORIES TODAY #1- Annual urban inflation accelerated to 13.5% in May, as rising global commodity prices and the recent\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":[]},{"id":555640,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/edita-wants-ole-bakeries-producer\/","url_meta":{"origin":546610,"position":4},"title":"Edita wants Ole bakeries producer","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"EGX-listed Edita Food Industries has submitted a non-binding letter of intent to acquire the Egyptian Belgian Company\u2019s assets, according to a statement (pdf). The Egyptian Belgian Company manufactures Ole-branded croissants, cakes, and donuts. The potential acquisition covers all of the company\u2019s real estate assets (including land plots and buildings), as\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\/2021\/11\/543.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542574,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/04\/edita-wont-be-acquiring-assets-of-ole-bakeries-manufacturer\/","url_meta":{"origin":546610,"position":5},"title":"Edita won\u2019t be acquiring assets of Ole bakeries manufacturer","author":"enterpriseam admin","date":"4 January 2022","format":false,"excerpt":"Snackfoods giant Edita won\u2019t acquire Egyptian Belgian Company\u2019s assets after talks collapse: Edita Food Industries\u2019 bid to acquire assets belonging to Egyptian Belgian Company has fallen through after the two companies were unable to agree on a valuation. The EGX-listed company had expected to finalize an agreement with the Ole\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\/1\/42.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\/546610","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=546610"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546610\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546611"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546610"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546610"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}