{"id":555428,"date":"2021-11-14T04:00:04","date_gmt":"2021-11-14T04:00:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/corporate-break-ups-are-all-the-rage-right-now\/"},"modified":"2021-11-14T04:00:04","modified_gmt":"2021-11-14T04:00:04","slug":"corporate-break-ups-are-all-the-rage-right-now","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/14\/corporate-break-ups-are-all-the-rage-right-now\/","title":{"rendered":"Corporate break-ups are all the rage right now"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-10\"><\/a> <strong>More spin-offs in big corporate-verse: Johnson & Johnson and Toshiba<\/strong> are the latest to announce a bid to streamline operations, with both companies saying on Friday they plan to split into smaller, more focused firms, according to the <a href=\"https:\/\/www.washingtonpost.com\/business\/2021\/11\/12\/johnson-johnson-split\/\">Washington Post<\/a> and <a href=\"https:\/\/www.reuters.com\/technology\/toshiba-set-announce-split-into-three-firms-shareholder-reaction-focus-2021-11-12\/\">Reuters<\/a>.<\/p>\n<p><strong>For J&J:<\/strong> One branch will be home to its <strong>core pharma operations<\/strong> and its medical device business, which includes the lucrative vaccine manufacturing branch. Another will focus on the business of <strong>household brands including Tylenol, Listerine and Band-Aid<\/strong>.<\/p>\n<p>For Toshiba: The move will see three new entities formed to house each of the Japanese giant\u2019s <strong>energy and infrastructure<\/strong> divisions, <strong>hard disk drives and semiconductor<\/strong>, and <strong>flash-memory<\/strong> chips divisions. The latest high-profile splits are signalling that investors are increasingly coming to value smaller, more focussed businesses over conglomerates.<\/p>\n<p><strong>The trend is gathering steam: <\/strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4681e285-769b-4fef-b477-0fb6f13c6442\">Last week<\/a> General Electric said it would break up into three separate entities by early 2024. The massive organization will spin off its healthcare division in early 2023, before merging its renewables, power equipment and digital businesses to be spun off in early 2024, while keeping the remaining company, GE Aviation, focussed on the engine-manufacturing arm.<\/p>\n<p><strong>Also worth noting in the financial press:<\/strong><\/p>\n<ul>\n<li><strong>Dubai toll system to IPO on the DFM: <\/strong>Dubai is looking to list its automated road toll system that operates without toll booths or barriers \u2014 Salik \u2014 on the Dubai Financial Market as part of a move to diversify listed government companies, Finance Minister Maktoum Bin Mohammed said on <a href=\"https:\/\/twitter.com\/MaktoumMohammed\/status\/1459511743512780805?s=20\">Twitter<\/a> yesterday.<\/li>\n<li><strong>Musk sells USD bns of Tesla stock: <\/strong>Tesla CEO Elon Musk appears to be doing as he promised, and has sold USD 6.9 bn worth of his shares in the company over the past week, <a href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/teslas-musk-sells-more-shares-after-twitter-vote-2021-11-12\/\">Reuters<\/a> reports, citing a regulatory filing. The bn\u2019aire last week <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2651d74f-0e6f-46d4-a1d9-671c292d44e7\">said he would sell 10% of his shares<\/a> if his Twitter followers voted for him to do so. Having sold 6.36 mn shares last week, he needs to offload another 10 mn to keep his promise.<\/li>\n<\/ul>\n<div class='stock-ticker-panel'>\n<table class='table stock-ticker-table table-striped markets-table'>\n<tbody>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>EGX30 <\/strong><\/p>\n<\/td>\n<td>\n<p>11573.14<\/p>\n<\/td>\n<td>\n<p>+0.8% (YTD: +6.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD (CBE)<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>USD at CIB<\/strong><\/p>\n<\/td>\n<td>\n<p>Buy 15.66<\/p>\n<\/td>\n<td>\n<p>Sell 15.76<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-none'>\n<td class='td-list-none'>\n<p><svg class='e-icon e-TypeMarkets'><use xlink:href='#e-TypeMarkets'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Interest rates CBE<\/strong><\/p>\n<\/td>\n<td>\n<p>8.25% deposit<\/p>\n<\/td>\n<td>\n<p>9.25% lending<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Tadawul<\/strong><\/p>\n<\/td>\n<td>\n<p>11,899<\/p>\n<\/td>\n<td>\n<p>+0.4% (YTD: +36.9%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>ADX<\/strong><\/p>\n<\/td>\n<td>\n<p>8,286<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +64.2%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>DFM<\/strong><\/p>\n<\/td>\n<td>\n<p>3,141<\/p>\n<\/td>\n<td>\n<p>+1.1% (YTD: +26.0%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>S&P 500<\/strong><\/p>\n<\/td>\n<td>\n<p>4,683<\/p>\n<\/td>\n<td>\n<p>+0.7% (YTD: +24.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>FTSE 100<\/strong><\/p>\n<\/td>\n<td>\n<p>7,348<\/p>\n<\/td>\n<td>\n<p>-0.5% (YTD: +13.7%)<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Brent crude<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 82.17<\/p>\n<\/td>\n<td>\n<p>-0.8%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-down'>\n<td class='td-list-down'>\n<p><svg class='e-icon e-TypeMarkets1'><use xlink:href='#e-TypeMarkets1'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n<td>\n<p>USD 4.79<\/p>\n<\/td>\n<td>\n<p>-7%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>Gold<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 1,869<\/p>\n<\/td>\n<td>\n<p>+3.0%<\/p>\n<\/td>\n<\/tr>\n<tr class='tr-row-up'>\n<td class='td-list-up'>\n<p><svg class='e-icon e-TypeMarkets11'><use xlink:href='#e-TypeMarkets11'><\/use><\/svg><\/p>\n<\/td>\n<td>\n<p><strong>BTC<\/strong><\/p>\n<\/td>\n<td>\n<p>USD 64,255<\/p>\n<\/td>\n<td>\n<p>+0.3% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><strong>THE CLOSING BELL-<\/strong><\/p>\n<p><strong>The EGX30 rose 0.8% at Thursday\u2019s close<\/strong> on turnover of EGP 894.7 mn (39.9% below the 90-day average). Foreign investors were net buyers. The index is up 6.7% YTD.<\/p>\n<p><strong>In the green: <\/strong>Medinet Nasr Housing (+11.6%), Heliopolis Housing (+5.6%) and Aspire Capital (+5.1%).<\/p>\n<p><strong>In the red: <\/strong>Speed Medical (-2.6%), GB Auto (-1.5%) and Abou Kir Fertilizers (-0.7%).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More spin-offs in big corporate-verse: Johnson &#038; Johnson and Toshiba are the latest to announce a bid to streamline operations, with both companies saying on Friday they plan to split into smaller, more focused firms, according to the Washington Post and Reuters. For J&#038;J: One branch will be home to its core pharma operations and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7210],"tags":[163,637,72,119,78,122,2232,651,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555428","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-dubai","tag-elon-musk","tag-enterpriseam","tag-financial-markets","tag-ipo-watch","tag-planet-finance","tag-salik","tag-tesla","tag-uae","wpautop","entry"],"acf":{"mongo_id":"2a5b8cea-93e5-4bd6-b793-dfe43b5790ed","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[555407],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Corporate break-ups are all the rage right now - 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\/2021\/11\/14\/corporate-break-ups-are-all-the-rage-right-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corporate break-ups are all the rage right now\" \/>\n<meta property=\"og:description\" content=\"More spin-offs in big corporate-verse: Johnson &amp; Johnson and Toshiba are the latest to announce a bid to streamline operations, with both companies saying on Friday they plan to split into smaller, more focused firms, according to the Washington Post and Reuters. 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Here\u2019s why: Over the course of less than two weeks in November, General Electric (GE), Johnson & Johnson, and Toshiba each announced that they were splitting up into smaller, more focused firms that would allow them to streamline their operations. In early November,\u2026","rel":"","context":"In &quot;Enterprise explains&quot;","block_context":{"text":"Enterprise explains","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/enterprise-explains\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/557.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592702,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/toshiba-elaraby-group-sign-egp-4-bn-partnership-contract-to-export-televisions\/","url_meta":{"origin":555428,"position":1},"title":"Toshiba, Elaraby Group sign EGP 4 bn partnership contract to export televisions","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"Japanese electronics producer Toshiba and Elaraby Group signed a EGP 4 bn partnership agreement to assemble and export television sets to 60 countries in the Middle East and Africa from Egypt, Deputy Chairman Ibrahim Elaraby told Al Mal. Elaraby did not provide further information about the partnership. Toshiba had been\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622887,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/toshiba-elaraby-jv-to-raise-its-manufacturing-value-to-usd-100-mn-next-year\/","url_meta":{"origin":555428,"position":2},"title":"Toshiba-Elaraby JV to raise its manufacturing value to USD 100 mn next year","author":"enterpriseam admin","date":"15 October 2018","format":false,"excerpt":"Japanese electronics producer Toshiba is planning to increase the value of products manufactured by its JV with Elaraby Group, Toshiba El Araby Visual & Appliances Marketing Company (TEVA), to USD 100 mn in 2019, TEVA CEO Daisuki Arahata said yesterday.","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561659,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/15\/what-the-markets-are-doing-on-15-april-2021\/","url_meta":{"origin":555428,"position":3},"title":"What the markets are doing on 15 April 2021","author":"enterpriseam admin","date":"15 April 2021","format":false,"excerpt":"Coinbase shares closed at USD 328.28 on their debut on the Nasdaq yesterday, 31% higher than their USD 250 reference price, CNBC reports. This gave the cryptocurrency exchange \u2014 the first crypto firm to go public in the US \u2014 a market cap of USD 85.8 bn at the end\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-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":629277,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/27\/toshiba-looks-to-expand-partnership-with-elaraby-on-manufacturing-projects\/","url_meta":{"origin":555428,"position":4},"title":"Toshiba looks to expand partnership with Elaraby on manufacturing projects","author":"enterpriseam admin","date":"27 May 2018","format":false,"excerpt":"Japanese electronics giant Toshiba is planning to expand its partnership with Elaraby Group, Chairman Mahmoud Elaraby said on Thursday, Al Shorouk reports. A delegation from Elaraby visited the Japanese company last week to discuss ways to expand the scope of their 40 year-old partnership. Elaraby was sparing on the details,\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545917,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/17\/planet-finance-standard-chartered-is-pulling-back-from-mea-but-still-wants-to-enter-egypt\/","url_meta":{"origin":555428,"position":5},"title":"Planet Finance: Standard Chartered is pulling back from MEA, but still wants to enter Egypt","author":"enterpriseam admin","date":"17 April 2022","format":false,"excerpt":"Standard Chartered plans major exit in MEA markets \u2014 but still wants to enter Egypt: Standard Chartered is completely shutting its business in seven countries in Africa and the Middle East in efforts to redirect resources to countries \u201cwhere it can have the greatest scale and growth potential,\u201d it said\u2026","rel":"","context":"In &quot;PLANET FINANCE&quot;","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"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\/555428","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=555428"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555428\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555407"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555428"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555428"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}