{"id":548881,"date":"2022-08-25T04:00:15","date_gmt":"2022-08-25T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/"},"modified":"2022-08-25T04:00:15","modified_gmt":"2022-08-25T04:00:15","slug":"b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/","title":{"rendered":"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt"},"content":{"rendered":"

<\/a> Filing error gives B Investments more time to respond to Adnoc\u2019s bid for <\/strong>TotalEnergies Egypt:<\/strong> B Investments has been granted an extension until 15 September to decide whether it will preempt Adnoc\u2019s bid<\/a> to acquire 50% of TotalEnergies Egypt, the company said in an EGX<\/a>disclosure (pdf)<\/a> yesterday. The private equity firm was originally set to respond to the offer by 29 August<\/a>, but the deadline was extended due to a \u201cminor miscalculation in the number of shares\u201d listed as up for sale in paperwork that TotalEnergies sent to B Investments, the disclosure read.<\/p>\n

REFRESHER- Adnoc\u2019s distribution arm <\/strong>last month <\/strong>agreed<\/strong> to acquire 50% of TotalEnergies Egypt<\/strong> for up to USD 203 mn \u2014 including the 15.4% stake currently held by B Investments, which is the only minority shareholder in the fuel distributor. Total Energies Marketing Afrique (TEMA), which holds the 84.6% majority stake, would sell 34.6% to Adnoc, handing the two companies 50-50 ownership.<\/p>\n

B Investments has the right of first refusal<\/strong>, allowing it to pre-empt Adnoc\u2019s bid and buy the 34.6% stake that TEMA plans to sell to the Emirati firm. Alternatively, B Investments can allow the transaction with Adnoc to go ahead and exit TotalEnergies entirely.<\/p>\n

The board is \u201cstill studying the bid\u201d <\/strong>and will meet to make a final call before the 15 September deadline, IR head Omar El Labban told Enterprise. The investment committee has already met once to discuss the bid and is still studying all its options.<\/p>\n","protected":false},"excerpt":{"rendered":"

Filing error gives B Investments more time to respond to Adnoc\u2019s bid for TotalEnergies Egypt: B Investments has been granted an extension until 15 September to decide whether it will preempt Adnoc\u2019s bid to acquire 50% of TotalEnergies Egypt, the company said in an EGXdisclosure (pdf) yesterday. The private equity firm was originally set to […]<\/p>\n","protected":false},"author":1,"featured_media":548882,"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":[1703,140,72,7128,1990,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548881","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-adnoc","tag-b-investments","tag-enterpriseam","tag-ma-watch","tag-totalenergies","tag-uae","wpautop","entry"],"acf":{"mongo_id":"8eb54116-946d-4eef-a9f3-89e3604ccb32","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/389.jpg","photo_position":"above","related_issue":[548874],"teaser":"","voice_url":""},"yoast_head":"\nB Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt - 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\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt\" \/>\n<meta property=\"og:description\" content=\"Filing error gives B Investments more time to respond to Adnoc\u2019s bid for TotalEnergies Egypt: B Investments has been granted an extension until 15 September to decide whether it will preempt Adnoc\u2019s bid to acquire 50% of TotalEnergies Egypt, the company said in an EGXdisclosure (pdf) yesterday. The private equity firm was originally set to […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-25T04:00:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/389.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\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt\",\"datePublished\":\"2022-08-25T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\"},\"wordCount\":251,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/8\/389.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ADNOC\",\"B Investments\",\"EnterpriseAM\",\"M&A Watch\",\"TotalEnergies\",\"UAE\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/\",\"name\":\"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt - 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Private equity outfit B Investments is \u201cevaluating all options\u201d after Adnoc Distribution agreed to buy 50% of TotalEnergies Egypt last week, B Investments IR head Omar El Labban told Enterprise.B Investments is the only minority shareholder in TotalEnergies Egypt: Under 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\/8\/97.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549432,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/b-investments-hasnt-made-its-mind-up-on-totalenergies-egypt\/","url_meta":{"origin":548881,"position":1},"title":"B Investments hasn\u2019t made its mind up on TotalEnergies Egypt","author":"enterpriseam admin","date":"18 September 2022","format":false,"excerpt":"B Investments has not yet decided on whether to preempt Adnoc\u2019s bid to acquire TotalEnergies Egypt. The company\u2019s board said on Thursday in a regulatory filing (pdf) that it was \u201cnot in a position to respond\u201d by a 15 September deadline, citing \u201cunresolved legal issues related to the validity of\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\/249.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578355,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/b-investments-exits-totalenergies-egypt\/","url_meta":{"origin":548881,"position":2},"title":"B Investments exits TotalEnergies Egypt","author":"enterpriseam admin","date":"26 December 2022","format":false,"excerpt":"B Investments sells entire stake in TotalEnergies Egypt: BPE Partners\u2019 B Investments has agreed to sell its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn, the company said in a statement (pdf). This came alongside a separate BPE Partners-backed vehicle\u2019s exit of its\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\/12\/516.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581592,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/adnoc-distribution-closes-acquisition-of-50-of-totalenergies-egypt\/","url_meta":{"origin":548881,"position":3},"title":"Adnoc Distribution closes acquisition of 50% of TotalEnergies Egypt","author":"enterpriseam admin","date":"16 February 2023","format":false,"excerpt":"The acquisition marks Adnoc\u2019s entry into the Egyptian fuel distribution market","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\/2023\/2\/ADNOC-1600-px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581330,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/08\/b-investments-finalizes-exit-from-totalenergies-egypt\/","url_meta":{"origin":548881,"position":4},"title":"B Investments finalizes exit from TotalEnergies Egypt","author":"enterpriseam admin","date":"8 February 2023","format":false,"excerpt":"BPE Partners\u2019 B Investments has completed the sale of its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afrique (TEMA) for USD 27.6 mn, the company said in an EGXdisclosure (pdf). The transaction came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for USD\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\/2023\/2\/TotalEnergies-Logo-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":552600,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/this-evening-govt-offering-investments-in-state-owned-hospitals-to-private-sector-b-investments-cites-legal-issues-in-tema-transfer-notice-for-totalenergies\/","url_meta":{"origin":548881,"position":5},"title":"THIS EVENING: Gov\u2019t offering investments in state-owned hospitals to private sector + B Investments cites \u201clegal issues\u201d in TEMA transfer notice for TotalEnergies","author":"enterpriseam admin","date":"15 September 2022","format":false,"excerpt":"Happy THURSDAY, friends. It\u2019s a much calmer end to the week than we had expected, judging by the newsflow over the past couple of weeks. THE BIG STORIES TODAY State-owned hospitals up for private sector grabs? The government is offering up investments to at least three state-owned hospitals to private\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\/548881","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=548881"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/548881\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/548874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/548882"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=548881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=548881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=548881"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=548881"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=548881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}