{"id":552482,"date":"2022-09-07T13:34:14","date_gmt":"2022-09-07T13:34:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/this-evening-chimera-wants-45-of-gb-lease-expedition-isnt-upping-its-mto-for-domty-plus-its-energy-everywhere-abroad\/"},"modified":"2022-09-07T13:34:14","modified_gmt":"2022-09-07T13:34:14","slug":"this-evening-chimera-wants-45-of-gb-lease-expedition-isnt-upping-its-mto-for-domty-plus-its-energy-everywhere-abroad","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/this-evening-chimera-wants-45-of-gb-lease-expedition-isnt-upping-its-mto-for-domty-plus-its-energy-everywhere-abroad\/","title":{"rendered":"THIS EVENING: Chimera wants 45% of GB Lease + Expedition isn\u2019t upping its MTO for Domty. Plus: It\u2019s energy everywhere abroad"},"content":{"rendered":"

Happy almost-THURSDAY, friends.<\/strong> It\u2019s almost the weekend, and we have a capital markets-heavy news day to show for it. But first:<\/p>\n

*** You have just two days to tell us how you\u2019re feeling about your business<\/strong> and the wider economy. We\u2019ll have the results for mid-month \u2014 just in time to give you a sense of what everyone else is thinking heading into budget season. Make your voice heard in our Fall Reader Survey.<\/a><\/strong> It won\u2019t take more than a few minutes to complete.<\/p>\n

THE BIG STORIES TODAY<\/strong><\/p>\n

<\/a> Chimera Investment is in talks with GB Auto to acquire 45% of its leasing arm GB Lease<\/strong>, according to a company disclosure to the EGX (pdf)<\/a>. The investment will be used to \u201cdeleverage the auto business and finance the further growth of GB Capital,\u201d Marina Kamal, GB Auto\u2019s IR head, told Enterprise.<\/p>\n

A consortium led by Expedition Investments won\u2019t up its ongoing mandatory tender offer<\/strong> for shares in Domty <\/strong>after an independent study valued the shares 38% higher, Al Mal<\/a> reports, citing sources it says have knowledge of the matter.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

The international business press is having another energy-dominated news day<\/strong>, between the ongoing tit-for-tat energy war between Russia and the EU, and the bloc\u2019s scrambling to cope with soaring energy prices. All eyes are currently on Moscow after Russian President Vladimir Putin threatened to cut off the bloc\u2019s gas supplies if it decides to impose price caps on the gas it imports from Russia \u2014 which is exactly what the EU proposed hours later. The story is getting ink from Reuters<\/a>, the Financial Times<\/a>, and the Wall Street Journal<\/a>.<\/p>\n

HAPPENING NOW- <\/strong><\/p>\n

The <\/strong>Egypt-International Cooperation Forum (Egypt-ICF)<\/a><\/strong> is currently underway<\/strong> at the new administrative capital. The three- day event will bring together global policymakers, ministers, development partners and other participants ahead of COP27 to discuss climate action and green transition, food security, and others with a focus on Africa. Check the full agenda here (pdf)<\/a>.<\/p>\n

Who\u2019s had the mic so far:<\/strong> President Abdel Fattah El Sisi<\/a>, US climate envoy John Kerry, and Odile Renaud-Basso, head of the European Bank for Reconstruction and Development (EBRD), among others.<\/p>\n

Renaud-Basso is also meeting with El Sisi<\/strong> and Finance Minister Mohamed Maait, and has already sat down with<\/a> International Cooperation Minister Rania Al Mashat. Look for climate finance to be at the top of the agenda for the meetings alongside the practicalities of COP27.<\/p>\n

Editor\u2019s Note:<\/strong> In this morning\u2019s edition of EnterpriseAM, we said that Renaud-Basso is in town to \u201ctalk turkey\u201d \u2014 meaning that she is discussing serious matters, not that Turkey the country is on her agenda.<\/p>\n

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** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n