{"id":552580,"date":"2022-09-14T13:22:23","date_gmt":"2022-09-14T13:22:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/14\/this-evening-expedition-gets-most-of-the-domty-shares-it-wanted-tabreed-is-investing-egp-1-6-bn-in-egypt-were-getting-egp-2-coins\/"},"modified":"2022-09-14T13:22:23","modified_gmt":"2022-09-14T13:22:23","slug":"this-evening-expedition-gets-most-of-the-domty-shares-it-wanted-tabreed-is-investing-egp-1-6-bn-in-egypt-were-getting-egp-2-coins","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/14\/this-evening-expedition-gets-most-of-the-domty-shares-it-wanted-tabreed-is-investing-egp-1-6-bn-in-egypt-were-getting-egp-2-coins\/","title":{"rendered":"THIS EVENING: Expedition gets most of the Domty shares it wanted + Tabreed is investing EGP 1.6 bn in Egypt + We\u2019re getting EGP 2 coins"},"content":{"rendered":"

Good afternoon, friends.<\/strong> It\u2019s a busy Wednesday afternoon here in Omm El Donia, with a little bit of everything coming out of the news cycle.<\/p>\n

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

<\/a> #1- Expedition Investments gets almost all of its targeted shares in Domty:<\/strong> Shareholders in EGX-listed Domty have agreed to sell 93.2 mn shares to the consortium of investors led by Expedition Investments, according to an EGX bulletin<\/a>. That\u2019s around 97% of the 96.2 mn shares the consortium was targeting in its bid to acquire a 34% stake in the cheesemaker. Expedition sweetened the offer<\/a> by upping its offer price by 10% last week.<\/p>\n

#2- <\/strong>UAE\u2019s Tabreed is investing EGP 1.6 bn in Egypt:<\/strong> DFM-listed National Central Cooling Company (Tabreed) inked a EGP 1.6 bn (AED 306.4 mn) long-term concession agreement with Egyptians for Healthcare Services (EHCS), according to a disclosure to the DFM (pdf<\/a>). The agreement will see Tabreed<\/a> build and operate cooling and heating assets to service Badr City medical park CapitalMed.<\/p>\n

ALSO- Egypt is going to start minting EGP 2 coins as part of a cooperation agreement<\/strong> with the UK\u2019s Royal Mint<\/strong>, which will set up a branch in the Suez Canal Economic Zone, according to a cabinet statement<\/a>.<\/p>\n

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

<\/a> The EU is proposing a cap on soaring revenues from non-gas energy companies<\/strong> and could raise over EUR 140 bn for consumers who need help<\/strong>, European Commission President Ursula von der Leyen told the EU Parliament today<\/a>. The EU has already handed out tax cuts and subsidies to try to contain its energy crisis and is now turning to those who have been making financial gains from the fallout. Wind and solar farms and nuclear plants would face a cap of EUR 180 per MWh on the revenue they receive for generating electricity, with governments recouping excess revenues and recycling it to support consumers, according to the draft of the proposal seen by Reuters<\/a>. The story is getting plenty of front-page coverage in the international business press: Bloomberg<\/a> | CNBC<\/a> | Washington Post<\/a><\/p>\n

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