{"id":554491,"date":"2021-12-12T13:55:36","date_gmt":"2021-12-12T13:55:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/tonight-ezz-steel-wants-to-buy-abou-hashimas-remaining-stake-in-egyptian-steel-chg-tender-offer-opens-tomorrow-shoukry-in-riyadh-bennett-in-abu-dhabi\/"},"modified":"2021-12-12T13:55:36","modified_gmt":"2021-12-12T13:55:36","slug":"tonight-ezz-steel-wants-to-buy-abou-hashimas-remaining-stake-in-egyptian-steel-chg-tender-offer-opens-tomorrow-shoukry-in-riyadh-bennett-in-abu-dhabi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/tonight-ezz-steel-wants-to-buy-abou-hashimas-remaining-stake-in-egyptian-steel-chg-tender-offer-opens-tomorrow-shoukry-in-riyadh-bennett-in-abu-dhabi\/","title":{"rendered":"TONIGHT: Ezz Steel wants to buy Abou Hashima\u2019s remaining stake in Egyptian Steel + CHG tender offer opens tomorrow + Shoukry in Riyadh + Bennett in Abu Dhabi."},"content":{"rendered":"

Good afternoon, friends, and bravo on finishing the first day of what looks set to be a <\/strong>busy week<\/strong> as one and all rush to get deadlines met, transactions finalized, t\u2019s crossed and i\u2019s dotted before the end-of-year lull. On the M&A front, Egyptian Steel founder Ahmed Abou Hashima could be about to bow out of the company\u2019s ownership structure, after Ezz Steel announced its bid to buy his remaining 18% stake, while Cleopatra shareholders can subscribe to CI Capital\u2019s tender offer for 26.2% of the healthcare provider from tomorrow.<\/p>\n

Elsewhere, a software bug has set the internet aflame<\/strong>, and the EU wants to make sure green financiers aren\u2019t secretly burning fossil fuels. Not lighting up anytime soon: New Zealand\u2019s pre-teens, who are likely getting a lifetime smoking ban come 2027.<\/p>\n

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

<\/a> #1 Ahmed Abou Hashima might soon become an ex-steel magnate:<\/strong> Ezz Steel is bidding to acquire 18% of Egyptian Steel for EGP 2.5 bn, according to a bourse disclosure (pdf)<\/a>, in a move that would see Ahmed Abou Hashima sell down his shares in the company he founded in 2010. Ezz Steel subsidiary Al Ezz Dekheila confirmed its plans to buy Abou Hashima\u2019s entire stake in an all-cash transaction that would put the value of Egyptian Steel at around EGP 13.9 bn.<\/p>\n

<\/a> #2 Tick, tock:<\/strong> Starting tomorrow, Cleopatra Hospital Group shareholders will have until Sunday, 26 December to subscribe to CI Capital\u2019s voluntary tender offer (VTO), which it launched last week to acquire 26.2% of the company, according to the timeline set by the EGX<\/a> today. CI Capital subsidiary MCI Capital Healthcare Partners last week got the greenlight from the FRA<\/a> on its offer to purchase the shares at EGP 5 apiece, with Cleopatra\u2019s biggest shareholder, Care Healthcare, agreeing to sell an 8-12% stake in the company from its holdings at the proposed price. Cleopatra\u2019s share price rose 1% on the news, closing at EGP 4.7 per share.<\/p>\n

^^We\u2019ll have more details on these stories and others in tomorrow\u2019s EnterpriseAM.<\/strong><\/p>\n

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<\/a> PSA #1- We\u2019ll have to wait a while longer to start signing up for booster <\/strong>shots:<\/strong> Today was supposed to be the first day that senior citizens, people with chronic medical conditions, and frontline workers such as medical staff could start registering with the Health Ministry to receive booster covid shots. It seems that we\u2019ll have to wait for a while longer: a couple of us tried to sign up this morning, but neither the website nor the ministry hotline are currently allowing people to register for third shots. The ministry aims to start inviting people to register in the coming days<\/strong>, ministry spokesperson Hossam Abdel Ghaffar told us this afternoon, without providing specifics.<\/p>\n

PSA #2-<\/strong> Attention joint stock and investment companies in Cairo:<\/strong> You have four days left to register for the government\u2019s e-invoicing platform<\/a>. As of this Wednesday, 15 December, more than 3.7k companies in the capital will be required to be on the system and start issuing electronic invoices for B2B transactions. Some 2.8k large taxpayers have signed up to the Finance Ministry\u2019s new digital platform over several phases going back to November 2020.<\/p>\n

<\/a> HAPPENING NOW-<\/strong> Shoukry is heading to KSA:<\/strong> Foreign Minister Sameh Shoukry is heading to Riyadh to launch what the ministry is calling<\/a> a \u201cpolitical consultation mechanism.\u201d We\u2019re not 100% sure what this means but it\u2019s supposed to enhance ties between Egypt and the Gulf.<\/p>\n

The <\/strong>Food Africa expo<\/a><\/strong> opened this morning<\/strong> at the Egypt International Exhibition Center and runs through Tuesday.<\/p>\n

The<\/strong> Arab Conference on the Peaceful Uses of Atomic Energy kicked off today <\/strong>in Aswan. The event runs until Thursday.<\/p>\n

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