{"id":560432,"date":"2021-02-28T04:42:01","date_gmt":"2021-02-28T04:42:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/"},"modified":"2021-02-28T04:42:01","modified_gmt":"2021-02-28T04:42:01","slug":"zeta-investment-bids-for-90-stake-in-anfi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/","title":{"rendered":"Zeta Investment bids for 90% stake in ANFI"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>It\u2019s official: Zeta has eyes for ANFI: <\/strong>The UAE branch of Hong Kong\u2019s Zeta Investment has submitted an offer to acquire 90% of brokerage house Alexandria National Company for Financial Investments\u2019 (ANFI) shares at EGP 5.48 per share, the Financial Regulatory Authority said in <a href=\"https:\/\/ent.news\/2021\/2\/ANFI-Zeta-bid.pdf\">a statement (pdf)<\/a> last week. This offer values the company at around EGP 25.8 mn. The regulator is currently studying the offer.<\/p>\n<p><strong>This is down slightly from what we were expecting:<\/strong> Zeta had previously offered to purchase the shares at EGP 5.51 apiece according to a <a href=\"https:\/\/ent.news\/2021\/2\/ADIB-ANFI.pdf\">disclosure by ADIB (pdf)<\/a>, valuing ANFI at more than EGP 25.9 mn, shareholders El Kahera El Watania Investment (KWIN) and the Abu Dhabi Islamic Bank <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9c4b03c-7e07-4ed4-ba5f-048a3454ec51\">said<\/a> earlier this month.<\/p>\n<p><strong>And it\u2019s a substantially weaker bid than what others have offered:<\/strong> A group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan, have offered to acquire <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7f01d21d-dcfe-498f-8969-7b061bc677d0\">75-90% of the company<\/a> for EGP 7.48 per share, and were given the green light by ANFI to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/82f21106-f4c0-4ee1-91ab-dbd5db02e73f\">start due diligence<\/a> last week.<\/p>\n<p><strong>Also in the running:<\/strong> The company also received offers of EGP 5.30 per share from <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Kayan Sustainable Development<\/a>, and EGP 5.50 per share from <a href=\"https:\/\/www.egx.com.eg\/downloads\/Bulletins\/255918_1.pdf\">Zaldi Capital (pdf)<\/a>.<\/p>\n<p><strong>ADIB heading for the exit:<\/strong> ADIB is looking to exit both ANFI and <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/53e85385-3fbf-4f52-9aa2-276c32b9de0c\">Assiut Islamic Trading<\/a>, which it considers <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d462009-f7d7-4e88-be73-f1d0a42620ea\">non-core businesses<\/a>. The Gulf lender owns almost 85% of ANFI, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s official: Zeta has eyes for ANFI: The UAE branch of Hong Kong\u2019s Zeta Investment has submitted an offer to acquire 90% of brokerage house Alexandria National Company for Financial Investments\u2019 (ANFI) shares at EGP 5.48 per share, the Financial Regulatory Authority said in a statement (pdf) last week. This offer values the company at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":560433,"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":[469,3714,72,76,293,7128,90],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-abu-dhabi-islamic-bank","tag-alexandria-national-company-for-financial-investments","tag-enterpriseam","tag-financial-regulatory-authority","tag-hong-kong","tag-ma-watch","tag-uae","wpautop","entry"],"acf":{"mongo_id":"dfe3135e-1f51-4fb6-963b-163a781a6adf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/386.jpg","photo_position":"above","related_issue":[560423],"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>Zeta Investment bids for 90% stake in ANFI - 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\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zeta Investment bids for 90% stake in ANFI\" \/>\n<meta property=\"og:description\" content=\"It\u2019s official: Zeta has eyes for ANFI: The UAE branch of Hong Kong\u2019s Zeta Investment has submitted an offer to acquire 90% of brokerage house Alexandria National Company for Financial Investments\u2019 (ANFI) shares at EGP 5.48 per share, the Financial Regulatory Authority said in a statement (pdf) last week. This offer values the company at [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-28T04:42:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/386.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Zeta Investment bids for 90% stake in ANFI\",\"datePublished\":\"2021-02-28T04:42:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\"},\"wordCount\":243,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/386.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi Islamic Bank\",\"Alexandria National Company for Financial Investments\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Hong Kong\",\"M&amp;A Watch\",\"UAE\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/28\/zeta-investment-bids-for-90-stake-in-anfi\/\",\"name\":\"Zeta Investment bids for 90% stake in ANFI - 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Compass\u2019 mandatory tender offer for ANFI will\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/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":560122,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/16\/brokerage-anfi-looks-like-its-picked-a-suitor-in-bidding-war\/","url_meta":{"origin":560432,"position":1},"title":"Brokerage ANFI looks like it\u2019s picked a suitor in bidding war","author":"enterpriseam admin","date":"16 February 2021","format":false,"excerpt":"ANFI agrees to DD on acquisition bid: Brokerage house Alexandria National Company for Financial Investments\u2019 (ANFI) board said it will allow a group of investors to start due diligence as part of their bid to acquire 75-90% of the company, ANFI in a regulatory filing (pdf) yesterday. The would-be acquirers\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/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":563621,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/anfi-shareholders-snub-zeta-mto-as-compass-gets-fra-approval-for-rival-bid\/","url_meta":{"origin":560432,"position":2},"title":"ANFI shareholders snub Zeta MTO as Compass gets FRA approval for rival bid","author":"enterpriseam admin","date":"11 July 2021","format":false,"excerpt":"Zeta doesn\u2019t look like its getting 90% of ANFI: Shareholders of Alexandria National Company for Financial Investment (ANFI) appear to have declined to sell their holdings to Hong Kong-based Zeta Investments, after the subscription period for its MTO to acquire 90% of the company ended Thursday without any offers to\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/96.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563802,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/","url_meta":{"origin":560432,"position":3},"title":"Tycoon isn\u2019t out of the race for ANFI","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"Tycoon back in the running for ANFI: Tycoon Holding wants to up its bid for Alexandria National Company for Financial Investments (ANFI) to EGP 6.25 from EGP 5.60, the Financial Regulatory Authority said in a statement (pdf) last Sunday. Tycoon\u2019s offer values ANFI at EGP 32.7 mn, and if successful\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566440,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/20\/compass-capital-makes-mto-on-anfi\/","url_meta":{"origin":560432,"position":4},"title":"Compass Capital makes MTO on ANFI","author":"enterpriseam admin","date":"20 June 2021","format":false,"excerpt":"Private equity firm Compass Capital has submitted a mandatory tender offer to acquire up to 100% of Alexandria National Company for Financial Investments (ANFI) for EGP 5.72 per share, according to a statement (pdf) by the Financial Regulatory Authority (FRA), making official reports we\u2019ve been seeing in the local press\u2026","rel":"","context":"In &quot;SPEED ROUND: M&amp;A WATCH&quot;","block_context":{"text":"SPEED ROUND: M&amp;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":563905,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/","url_meta":{"origin":560432,"position":5},"title":"Tycoon to officially kick off bid for ANFI","author":"enterpriseam admin","date":"28 July 2021","format":false,"excerpt":"Tycoon Holding gets FRA nod to launch MTO for ANFI: Shareholders of Alexandria National Company for Financial Investment (ANFI) will soon be able to sell their shares to Tycoon Holding after the Financial Regulatory Authority yesterday approved (pdf) its mandatory tender offer to acquire 90% of the listed company.What\u2019s the\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/278.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560432","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=560432"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560432\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560433"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560432"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560432"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}