{"id":558931,"date":"2021-01-03T03:45:17","date_gmt":"2021-01-03T03:45:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/03\/a-spate-of-mas-to-end-the-year\/"},"modified":"2021-01-03T03:45:17","modified_gmt":"2021-01-03T03:45:17","slug":"a-spate-of-mas-to-end-the-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/03\/a-spate-of-mas-to-end-the-year\/","title":{"rendered":"A spate of M&As to end the year"},"content":{"rendered":"

<\/a> Abu Dhabi Commercial Bank (ADCB) has acquired a 51.5% stake in Alexandria <\/strong>Medical <\/strong>in a AED 64 mn (EGP 275 mn) transaction, Hapi Journal<\/a> reported. The acquisition is part of a settlement owed to the bank by Emirati healthcare company NMC Health, which was brought to the edge of collapse last year<\/a> after hedge fund Muddy Waters questioned its financial reporting that ultimately forced the company into administration. The company began selling off assets in May<\/a> to raise funds to repay its creditors. The stake in Alex Medical \u2014 which was held by NMC\u2019s former chairman and CEO BR Shetty \u2014 was used as collateral for Shetty\u2019s loans from ADCB. The Indian b\u2019naire, who had previously held 87.6% of Alex Medical\u2019s shares, quit Alex Medical\u2019s board last year<\/a> after the results of the investigation came to light.<\/p>\n

Advisors:<\/strong> Prime Securities Brokerage executed the transaction, while Zulficar & Partners provided counsel to the brokerage firm.<\/p>\n

The National Bank of Egypt (NBE) acquired a 24% stake in Raya subsidiary Aman <\/strong>Holding in a EGP 480 mn transaction<\/strong>, the bank said in a bourse filing (pdf)<\/a> on Wednesday. The acquisition will help the bank expand its non-banking financial services and micro-project financing, NBE Chairperson Hisham Okasha said<\/a>. The bank was competing<\/a> with 11 other bidders for the shares in the NBFS player and was expected to acquire<\/a> 20-25% stake. Raya established Aman Holding last January<\/a> as a parent for its three non-banking financial services arms: Aman Financial Services, Aman E-Payments, and Aman Microfinance.<\/p>\n

Advisors: <\/strong>The NBE tapped<\/a> Grant Thornton as financial advisor and Matouk Bassiouny & Hennawy as counsel.<\/p>\n

State-owned investment bank NI Capital closed on Thursday its EGP 75.2 mn<\/strong> acquisition of Bank Audi\u2019s Arabeya Online Brokerage<\/strong>, the local press<\/a> reports. NI Capital and Bank Audi had signed the sale and purchase agreement in November<\/a>, saying at the time the transaction was subject to regulatory clearance. Bank Audi had signaled in February<\/a> it was looking to offload the entirety of its 100% stake in Arabeya Online shortly after announcing it was looking to sell its Egypt unit to First Abu Dhabi Bank amid the ongoing Lebanese financial crisis. Arabeya Online was founded in 2006 by current Public Enterprises Minister Hisham Tawfik and his brother, Hany.<\/p>\n

Advisors:<\/strong> NI Capital appointed Shahid Law Firm as counsel and Mazars Mostafa Shawki as tax advisor, while Ernst & Young consulted on digital transactions. Bank Audi tapped Zulficar & Partners as advisor and Broadgate Advisers as financial advisor.<\/p>\n

Beltone Financial is on track to finalize the sale of its 60% stake in New <\/strong>York-based brokerage Auerbach Grayson after earning approval<\/strong> from the US Financial Industry Regulatory Authority (Finra) last week, the investment bank said in a disclosure (pdf)<\/a>. The proceeds from the sale, which is valued at USD 2.8 mn (EGP 45 mn), will be earmarked for the expansion of Beltone\u2019s non-banking financial services platforms and to support its other services, the statement says. Beltone had signed the stake over to a group of unnamed investors back in April<\/a> after announcing last January<\/a> its intention to offload its stake as a result of \u201clarge losses\u201d it incurred since its purchase in 2016.<\/p>\n

B Investments Holding is moving ahead with the sale of <\/strong>its entire 60% stake in tableware manufacturer <\/strong>B\u00e9ard<\/a><\/strong> in a EGP 19 mn transaction after the decision was approved by B Investment\u2019s board of directors on Wednesday, according to a bourse disclosure (pdf)<\/a>. Shahid Law Firm is buyer\u2019s counsel on the transaction, we\u2019re told.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi Commercial Bank (ADCB) has acquired a 51.5% stake in Alexandria Medical in a AED 64 mn (EGP 275 mn) transaction, Hapi Journal reported. The acquisition is part of a settlement owed to the bank by Emirati healthcare company NMC Health, which was brought to the edge of collapse last year after hedge fund […]<\/p>\n","protected":false},"author":1,"featured_media":558932,"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":[7363],"tags":[988,616,140,2037,204,72,546,7128,834,361,595,614],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-abu-dhabi-commercial-bank","tag-aman-financial-services","tag-b-investments","tag-bank-audi","tag-banking","tag-enterpriseam","tag-hisham-okasha","tag-ma-watch","tag-ni-capital","tag-nmc-health","tag-non-banking-financial-services","tag-raya-holding","wpautop","entry"],"acf":{"mongo_id":"c9909934-235b-4cfc-8a25-fdc76dbaa80f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/11.jpg","photo_position":"above","related_issue":[558925],"teaser":"","voice_url":""},"yoast_head":"\nA spate of M&As to end the year - 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\/01\/03\/a-spate-of-mas-to-end-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A spate of M&As to end the year\" \/>\n<meta property=\"og:description\" content=\"Abu Dhabi Commercial Bank (ADCB) has acquired a 51.5% stake in Alexandria Medical in a AED 64 mn (EGP 275 mn) transaction, Hapi Journal reported. 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Africa-focused investment firm Tana Africa Capital have reportedly made overtures to acquire Abu Dhabi Commercial Bank\u2019s (ADCB) 51.5% stake in Alexandria Medical Services, Al Mal reported, citing sources close to the matter.This is\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/280.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566242,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/the-bookies-should-be-running-odds-on-whos-going-to-get-alex-medical\/","url_meta":{"origin":558931,"position":1},"title":"The bookies should be running odds on who\u2019s going to get Alex Medical","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"\u00a0Yas Holding launches bid for Alex Medical: It looks like yet another company has joined the bidding war for Abu Dhabi 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Medical Services and is now willing to pay EGP 49.04 per share, up from EGP 45.53 it offered in May, the Financial Regulatory Authority said in a statement (pdf). This would value the company at\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/127.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563549,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/enough-is-enough\/","url_meta":{"origin":558931,"position":3},"title":"Enough is enough","author":"enterpriseam admin","date":"7 July 2021","format":false,"excerpt":"Nile Misr Medical Holding is ready to exit the race to acquire Alexandria Medical Services should the bidding war continue to drive up the purchase price, the CEO of the company told us yesterday. \u201cWe\u2019re still in the race, but we think [offers on the table] are on the high\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/67.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565627,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/its-official-4-investors-are-in-the-bidding-war-for-alex-medical\/","url_meta":{"origin":558931,"position":4},"title":"It\u2019s official: 4 investors are in the bidding war for Alex Medical","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"Healthcare investment firm Seha Capital is the latest to throw its hat in the ring for Alexandria Medical Services as Abu Dhabi Commercial Bank(ADCB) looks to offload its 51.54% stake, Alex Medical said in an EGX disclosure (pdf).The company is now officially being courted by four bidders: EGX-listed Cleopatra Hospitals\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555228,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/07\/abu-dhabi-commercial-bank-egypt-profits-inch-up-in-3q2021\/","url_meta":{"origin":558931,"position":5},"title":"Abu Dhabi Commercial Bank Egypt profits inch up in 3Q2021","author":"enterpriseam admin","date":"7 November 2021","format":false,"excerpt":"Abu Dhabi Commercial Bank Egypt reported net income of EGP 379 mn in 3Q2021, up almost 3% from the same quarter last year, the bank said in a press release(pdf). The bank began operating under this name last year as a local Egyptian bank as a rebadge of Union National\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"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\/558931","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=558931"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558931\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558932"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558931"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558931"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}