{"id":554592,"date":"2021-12-20T13:55:25","date_gmt":"2021-12-20T13:55:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/20\/this-evening-frosty-visits-alexandrias-shores-idh-to-acquire-50-stake-in-islamabad-diagnostic-center-indias-uflex-to-invest-usd-30-mn-in-local-manufacturing-plant\/"},"modified":"2021-12-20T13:55:25","modified_gmt":"2021-12-20T13:55:25","slug":"this-evening-frosty-visits-alexandrias-shores-idh-to-acquire-50-stake-in-islamabad-diagnostic-center-indias-uflex-to-invest-usd-30-mn-in-local-manufacturing-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/20\/this-evening-frosty-visits-alexandrias-shores-idh-to-acquire-50-stake-in-islamabad-diagnostic-center-indias-uflex-to-invest-usd-30-mn-in-local-manufacturing-plant\/","title":{"rendered":"THIS EVENING: Frosty visits Alexandria\u2019s shores + IDH to acquire 50% stake in Islamabad Diagnostic Center + India\u2019s Uflex to invest USD 30 mn in local manufacturing plant"},"content":{"rendered":"

<\/a> Alexandrians experienced some snowfall today<\/strong> as the temperature dropped to 7\u00b0C following days of extremely cold weather.<\/p>\n

Alex isn\u2019t out of its bout of bad weather just yet<\/strong>, with precipitation expected to continue through till Thursday, our favorite weather app forecasts.<\/p>\n

As of dispatch<\/strong>, it\u2019s unclear whether children will be back in school tomorrow in Alexandria, Cairo, and other governorates. <\/strong>Kids in Alexandria have been staying under the covers these past few days as schools shut down while their counterparts in Greater Cairo also got a day off<\/a> today.<\/p>\n

\u26c5 THE <\/strong>WEATHER- <\/strong>There is a chance of slight rain tonight for Cairenes<\/strong>, The Egyptian Meteorological Authority noted on Saturday<\/a>. The temperature will drop to a mean 7\u00b0C in the next few hours, so be sure to stay warm. Meanwhile, Cairo\u2019s weather will be slightly warmer tomorrow but a slight chance of rain persists, according to our favorite weather app.<\/p>\n

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*** Tell us what you expect for the year ahead \u2014 and get a chance to have breakfast with<\/strong> us in 2022:<\/strong> Every year, we ask our readers to weigh in on what you expect for the year ahead in our Enterprise Reader Poll<\/a>. Take a few minutes to tell us your take on the outlook for your business and industry, whether you\u2019re planning fresh investments and new hires, and how your business fared in the year past. We\u2019ll share the results with the entire community in early January to help you shape your view of the year.<\/p>\n

We\u2019ll be inviting eight readers who take the poll to breakfast in 2022<\/strong> and another dozen of you will get your own Enterprise mug to enjoy your morning beverage of choice.<\/p>\n

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

<\/a> #<\/strong>1 M&A Watch- IDH is going to Pakistan:<\/strong> Consumer healthcare and diagnostics giant Integrated Diagnostics Holdings (IDH) plans to snap up a 50% stake in the parent company of Pakistan-based diagnostics group Islamabad Diagnostic Center (IDC)<\/a> for USD 72.35 mn, the company said in anLSE filing<\/a>. The transaction, which will mark the London- and EGX-listed IDH\u2019s entry into Pakistan, will be financed \u201cthrough a combination of existing cash and committed debt facilities,\u201d IDH said in the filing. The debt package includes a USD 45 mn facility secured from IFC in May 2021, and an additional USD 15 mn IFC syndicated facility from Mashreq Bank, the company said.<\/p>\n

<\/a> #2<\/strong> Investment Watch- Indian polymeric films manufacturer <\/strong>Uflex<\/a><\/strong> is planning on building a USD 30 mn chemicals plant in Egypt<\/strong>, according to acabinet statement.<\/a> The announcement came on the sidelines of PM Mostafa Madbouly\u2019s inauguration of a new high barrier plastic films production line at the company\u2019s USD 100 mn Flex P Films factory, the first of its kind in the MENA region, according to the statement. Not much else was said about the new chemicals plant.<\/p>\n

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

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