{"id":547774,"date":"2022-07-06T04:19:02","date_gmt":"2022-07-06T04:19:02","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/"},"modified":"2022-07-06T04:19:02","modified_gmt":"2022-07-06T04:19:02","slug":"sodic-makes-a-play-for-mnhd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/","title":{"rendered":"SODIC makes a play for MNHD"},"content":{"rendered":"

<\/a> SODIC<\/strong> is bidding to acquire <\/strong>Madinet Nasr Housing and Development <\/strong>(MNHD) <\/strong>as the real estate developer\u2019s new owners look to expand its footprint in the local market. The company said in a bourse<\/a>filing (pdf)<\/a> yesterday that it has submitted a non-binding offer to acquire up to 100% of the state-owned developer in a potential all-cash transaction that could value the company by as much as EGP 6.36 bn.<\/p>\n

The details: <\/strong>SODIC said it will offer to pay EGP 3.20-3.40 per share to acquire the company, subject to due diligence and conditions in the offer. This is a 28-36% premium on its share price at Monday\u2019s close. The median EGP 3.30 price would value the company at EGP 6.2 bn (USD 328 mn).<\/p>\n

Madinet Nasr\u2019s shares bounced on the news<\/strong>, rising 8.0% during trading to close at EGP 2.70, making it the EGX30\u2019s top performer. SODIC gained 0.8% to EGP 11.10.<\/p>\n

We saw this coming:<\/strong> Aldar Properties, which together with Abu Dhabi wealth fund ADQ acquired SODIC<\/a> last year, was reported in June<\/a> to be considering purchasing a majority stake in the company.<\/p>\n

What they said: <\/strong>SODIC\u2019s current strategy is to \u201cgrow its market share and continue to expand its development portfolio in Egypt,\u201d the developer said in its statement. \u201cThe transaction, if consummated, would expand SODIC\u2019s footprint in the East Cairo market, widen its customer base and leverage both developers\u2019 strengths to achieve scale and create value through a combined undeveloped land bank of c. 11 mn sqm.\u201d In a bourse filing (pdf)<\/a> in Abu Dhabi, Aldar described the company as \u201cone of Egypt\u2019s premier urban community developers\u201d and said that it has a \u201csizable land bank\u201d for future expansion beyond its flagship Taj City and Saraj projects.<\/p>\n

What\u2019s next: <\/strong>The non-binding offer is pending regulatory approvals and due diligence, which SODIC plans to conduct as soon as possible, the Financial Regulatory Authority (FRA) said (pdf)<\/a> yesterday. MNHD is convening a board meeting \u201cas soon as possible\u201d to discuss the offer, board member Salah Katamish told Enterprise. The board was \u201csurprised\u201d upon receiving the offer, he added, without adding further details. MNHD will likely hire a financial advisor to conduct a fair value study, he said.<\/p>\n

Blast from the past: <\/strong>SODIC\u2019s interest in MNHD goes way back to 2018<\/a>, when it made an offer to acquire at least 51% of the developer through a direct share swap. Talks fell through<\/a> after the two sides failed to reach an agreement on the share-swap ratio.<\/p>\n

MNHD\u2019s current owners:<\/strong> State-owned institutions collectively own the largest stake in MNHD, with the Holding Company for Construction and Development holding 15.2%, the National Investment Bank owning 3.7% and Banque Misr holding 3.5%. BIG Investment Group is the largest single shareholder with a 19.9% stake, B Investments owns 7.5% and 20.4% is held by foreign institutions.<\/p>\n

The offer should not affect MNHD\u2019s other acquisition plans<\/strong>, including its bid for real estate company Minka Development<\/a>, Katamish said. MNHD\u2019s board earlier this week gave preliminary approval<\/a> to go ahead with the acquisition of Minka and related special purpose vehicle EgyCan for Real Estate Development for up to EGP 200 mn.<\/p>\n

Advisors: <\/strong>CI Capital is acting as SODIC\u2019s financial advisor, while MNHD has yet to tap an investment bank, Katamish said. Zaki Hashem & Partners will be MNHD\u2019s legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"

SODIC is bidding to acquire Madinet Nasr Housing and Development (MNHD) as the real estate developer\u2019s new owners look to expand its footprint in the local market. The company said in a boursefiling (pdf) yesterday that it has submitted a non-binding offer to acquire up to 100% of the state-owned developer in a potential all-cash […]<\/p>\n","protected":false},"author":1,"featured_media":547775,"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":[72,7128,353,312],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ma-watch","tag-madinet-masr-for-housing-and-development","tag-sodic","wpautop","entry"],"acf":{"mongo_id":"ac0d2951-4c12-4a13-827a-1941b1904444","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/134.jpg","photo_position":"above","related_issue":[547770],"teaser":"","voice_url":""},"yoast_head":"\nSODIC makes a play for MNHD - 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\/07\/06\/sodic-makes-a-play-for-mnhd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SODIC makes a play for MNHD\" \/>\n<meta property=\"og:description\" content=\"SODIC is bidding to acquire Madinet Nasr Housing and Development (MNHD) as the real estate developer\u2019s new owners look to expand its footprint in the local market. The company said in a boursefiling (pdf) yesterday that it has submitted a non-binding offer to acquire up to 100% of the state-owned developer in a potential all-cash […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-06T04:19:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"SODIC makes a play for MNHD\",\"datePublished\":\"2022-07-06T04:19:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\"},\"wordCount\":551,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"M&A Watch\",\"Madinet Masr for Housing and Development\",\"SODIC\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\",\"name\":\"SODIC makes a play for MNHD - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2022-07-06T04:19:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SODIC makes a play for MNHD\"}]},{\"@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":"SODIC makes a play for MNHD - 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\/07\/06\/sodic-makes-a-play-for-mnhd\/","og_locale":"en_US","og_type":"article","og_title":"SODIC makes a play for MNHD","og_description":"SODIC is bidding to acquire Madinet Nasr Housing and Development (MNHD) as the real estate developer\u2019s new owners look to expand its footprint in the local market. The company said in a boursefiling (pdf) yesterday that it has submitted a non-binding offer to acquire up to 100% of the state-owned developer in a potential all-cash […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-07-06T04:19:02+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.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":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"SODIC makes a play for MNHD","datePublished":"2022-07-06T04:19:02+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/"},"wordCount":551,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM","M&A Watch","Madinet Masr for Housing and Development","SODIC"],"articleSection":["M&A WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/","name":"SODIC makes a play for MNHD - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1","datePublished":"2022-07-06T04:19:02+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/06\/sodic-makes-a-play-for-mnhd\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"SODIC makes a play for MNHD"}]},{"@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\/7\/134.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/134.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\/7\/134.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":600296,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/27\/sodic-calls-off-all-share-acquisition-of-mnhd\/","url_meta":{"origin":547774,"position":0},"title":"SODIC calls off all-share acquisition of MNHD","author":"enterpriseam admin","date":"27 January 2019","format":false,"excerpt":"M&A WATCH- SODIC calls off all-share acquisition of MNHD: Upmarket real estate developer SODIC will not submit a mandatory tender offer to acquire at least 51% of Madinet Nasr Housing and Development (MNHD) through a direct share swap, according to a regulatory filing (pdf) on Wednesday. B-Investments, a lead shareholder\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\/2019\/1\/2559.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600636,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/05\/emaar-misr-denies-mnhd-acquisition-talks\/","url_meta":{"origin":547774,"position":1},"title":"Emaar Misr denies MNHD acquisition talks","author":"enterpriseam admin","date":"5 February 2019","format":false,"excerpt":"M&A WATCH- Emaar Misr says not looking to acquire MNHD: Emaar Misr for Development has denied it is in talks with Madinet Nasr Housing and Development (MNHD) to acquire the company, according to an EGX filing (pdf). This came as media reports claimed that the Emirati real estate company was\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":622866,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/sodic-bidding-to-acquire-at-least-51-of-mnhd-in-all-share-transaction\/","url_meta":{"origin":547774,"position":2},"title":"SODIC bidding to acquire at least 51% of MNHD in all-share transaction","author":"enterpriseam admin","date":"15 October 2018","format":false,"excerpt":"** #1 M&A WATCH- SODIC bidding to acquire at least 51% of MNHD in all-share transaction: Upmarket real estate developer SODIC announced yesterday (pdf) it intends to make a mandatory tender offer to acquire at least 51% of Madinet Nasr Housing and Development (MNHD) through a direct share swap. SODIC\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":547884,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/mnhd-wants-sodic-to-bump-up-its-offer-price\/","url_meta":{"origin":547774,"position":3},"title":"MNHD wants SODIC to bump up its offer price","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"MNHD says the price isn\u2019t right on SODIC\u2019s acquisition bid: Madinet Nasr for Housing and Development (MNHD) has rejected a takeover bid by SODIC and called on the company to bump up its offer. SODIC before Eid Al Adha offered to purchase up to 100% of MNHD for EGP 3.20-3.40\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\/179.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604676,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/sodic-enters-egp-800-mn-settlement-agreement-with-iga\/","url_meta":{"origin":547774,"position":4},"title":"SODIC enters EGP 800 mn settlement agreement with IGA","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"SODIC enters EGP 800 mn settlement agreement with IGA: Leading real estate developer SODIC has agreed to pay EGP 800 mn in a settlement with a state agency to avoid \u201centering into lengthy legal disputes,\u201d the company said yesterday (pdf). The settlement avoids \u201csignificant [potential] negative implications on the Company\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":623269,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/egypt-real-estate-giants-sodic-mnhd-release-operational-updates-as-they-push-ahead-with-merger\/","url_meta":{"origin":547774,"position":5},"title":"Egypt real estate giants SODIC, MNHD release operational updates as they push ahead with merger","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"** #3 M&A WATCH- Real estate giants SODIC and MNHD release operational updates. The two players in what we believe is Egypt\u2019s largest-ever domestic merger issued operational updates yesterday as the transaction chugs toward a potential end-of-year close: SODIC sees net contracted sales growing 14% y-o-y 2018: SODIC is anticipating\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547774","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=547774"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547774\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547770"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547775"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547774"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547774"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}