{"id":549234,"date":"2022-09-08T04:00:40","date_gmt":"2022-09-08T04:00:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/"},"modified":"2022-09-08T04:00:40","modified_gmt":"2022-09-08T04:00:40","slug":"credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/","title":{"rendered":"Credit Agricole and Banque du Caire are both feeling acquisitive"},"content":{"rendered":"

<\/a> We have two other M&A stories for you this morning:<\/strong><\/p>\n

Up first: Credit Agricole will purchase a 4.8% stake in Credit Agricole Egypt today<\/strong>, taking its holdings in its local unit to around 65%, Bloomberg Asharq<\/a> reports, citing unnamed sources. The French lender plans to purchase 60 mn shares of its EGX-listed subsidiary from local and international investment funds in a transaction that is set to be executed today, they said.<\/p>\n

The details: <\/strong>The sources are valuing Credit Agricole Egypt\u2019s shares at EGP 6.23-EGP 7.00 apiece, bringing the total value of the transaction at EGP 374-420 mn. Shares in the bank fell 1% to EGP 6.20 yesterday.<\/p>\n

Who owns Credit Agricole Egypt?<\/strong> Credit Agricole currently owns 60.44% of its Egyptian business, with Rolaco E.G.P Investments owning 6.59% and the remaining 32.9% simply flagged as \u201cothers,\u201d according to the bank\u2019s website<\/a>.<\/p>\n

Advisors:<\/strong> Our friends at EFG Hermes<\/strong> are reportedly acting as financial advisor and lead manager of the transaction, the sources said.<\/p>\n

BDC BUYS INTO WESTERN UNION\u2019S LOCAL REP-<\/strong><\/p>\n

Banque du Caire<\/strong> has acquired a 10% stake in Western Union\u2019s local <\/strong>representative<\/strong>, International Business Associates Group<\/a> (IBAG). The state-owned bank acquired the shares from Al Ahly Capital Holding \u2014 the National Bank of Egypt\u2019s investment arm \u2014 and Banque Misr, IBAG said in a statement<\/a> yesterday, without disclosing the value of the transaction. This trims Al Ahly Capital and Banque Misr\u2019s holdings to 15% each, while Sarhank Group retains its majority 60% stake. The parties to the sale did not disclose the value of the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

We have two other M&A stories for you this morning: Up first: Credit Agricole will purchase a 4.8% stake in Credit Agricole Egypt today, taking its holdings in its local unit to around 65%, Bloomberg Asharq reports, citing unnamed sources. The French lender plans to purchase 60 mn shares of its EGX-listed subsidiary from local […]<\/p>\n","protected":false},"author":1,"featured_media":549235,"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":[350,72,241,243,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-chimera-investment","tag-enterpriseam","tag-gb-auto","tag-gb-lease","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a704b1a8-82a5-40fa-85df-6c6b5f63382c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/160.jpg","photo_position":"above","related_issue":[549228],"teaser":"","voice_url":""},"yoast_head":"\nCredit Agricole and Banque du Caire are both feeling acquisitive - 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\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Credit Agricole and Banque du Caire are both feeling acquisitive\" \/>\n<meta property=\"og:description\" content=\"We have two other M&A stories for you this morning: Up first: Credit Agricole will purchase a 4.8% stake in Credit Agricole Egypt today, taking its holdings in its local unit to around 65%, Bloomberg Asharq reports, citing unnamed sources. The French lender plans to purchase 60 mn shares of its EGX-listed subsidiary from local […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-08T04:00:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/160.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\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Credit Agricole and Banque du Caire are both feeling acquisitive\",\"datePublished\":\"2022-09-08T04:00:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\"},\"wordCount\":260,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/160.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Chimera Investment\",\"EnterpriseAM\",\"GB Auto\",\"GB Lease\",\"M&A Watch\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/credit-agricole-and-banque-du-caire-are-both-feeling-acquisitive\/\",\"name\":\"Credit Agricole and Banque du Caire are both feeling acquisitive - 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The French lender purchased 60 mn shares of its EGX-listed subsidiary, taking its holdings to around 65.3%, it said.The details: Bloomberg Asharq reported last week Cr\u00e9dit Agricole Egypt\u2019s\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\/183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564663,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/18\/credit-agricole-and-nbk-egypt-plan-capital-raises-it-looks-like-banque-misr-is-upping-its-bid-for-ci-capital\/","url_meta":{"origin":549234,"position":1},"title":"Credit Agricole and NBK Egypt plan capital raises + it looks like Banque Misr is upping its bid for CI Capital","author":"enterpriseam admin","date":"18 February 2021","format":false,"excerpt":"The EGX30 fell 0.3% at today\u2019s close on turnover of EGP 1.3 bn (9.8% below the 90-day average). Local investors were net buyers. The benchmark index is down 1.1% for the week, but up 4.9% year-to-date.In the green: Orascom Investment Holding (+4.3%), Abou Kir Fertilizers (+3.3%) and Sidi Kerir Petrochemicals\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628791,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/credit-agricole-reports-1q2018-results\/","url_meta":{"origin":549234,"position":2},"title":"Credit Agricole reports 1Q2018 results","author":"enterpriseam admin","date":"14 May 2018","format":false,"excerpt":"EARNINGS WATCH- Credit Agricole Egypt reported a jump in net profit to EGP 601 mn in 1Q2018, up from EGP 467 mn in the same period last year, according to a regulatory filing.","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":634669,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/21\/credit-agricole-faisal-allocate-egp-500-mn-and-egp-200-mn-to-cbes-mortgage-finance-initiative\/","url_meta":{"origin":549234,"position":3},"title":"Credit Agricole, Faisal allocate EGP 500 mn and EGP 200 mn to CBE\u2019s mortgage finance initiative","author":"enterpriseam admin","date":"21 January 2018","format":false,"excerpt":"The central bank\u2019s Mortgage Finance Fund has signed agreements with Credit Agricole and Faisal Islamic Bank that will see them make EGP 500 mn and EGP 200 mn, respectively, available to financing housing purchases for the mid- and low-income segment, Al Borsa reports.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":550938,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/earnings-watch-amoc-credit-agricole-export-development-bank-adib\/","url_meta":{"origin":549234,"position":4},"title":"Earnings watch: AMOC, Credit Agricole, Export Development Bank, ADIB","author":"enterpriseam admin","date":"15 May 2022","format":false,"excerpt":"EARNINGS WATCH- Alexandria Minerals Oil Company\u2019s (AMOC) bottom line rose roughly 638% in 9M 2021-2022 to EGP 762 mn, according to the company\u2019s financials (pdf). The company\u2019s revenues rose 72% y-o-y during the nine-month period to EGP 12.26 bn. Credit Agricole Egypt\u2019s bottom line rose 30% y-o-y in 1Q 2022\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573352,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/29\/earnings-watch-tmg-credit-agricole\/","url_meta":{"origin":549234,"position":5},"title":"Earnings watch: TMG, Credit Agricole","author":"enterpriseam admin","date":"29 July 2020","format":false,"excerpt":"EARNINGS WATCH- Talaat Moustafa Group (TMG) reported a drop in net income to EGP 705 mn in 1H2020, compared to EGP 812 mn in the first half of last year, the real estate developer said in a regulatory filing (pdf). Revenues during the period came in at EGP 4.6 bn,\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\/549234","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=549234"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549234\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549235"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549234"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549234"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}