{"id":563621,"date":"2021-07-11T04:00:39","date_gmt":"2021-07-11T04:00:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/anfi-shareholders-snub-zeta-mto-as-compass-gets-fra-approval-for-rival-bid\/"},"modified":"2021-07-11T04:00:39","modified_gmt":"2021-07-11T04:00:39","slug":"anfi-shareholders-snub-zeta-mto-as-compass-gets-fra-approval-for-rival-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/anfi-shareholders-snub-zeta-mto-as-compass-gets-fra-approval-for-rival-bid\/","title":{"rendered":"ANFI shareholders snub Zeta MTO as Compass gets FRA approval for rival bid"},"content":{"rendered":"

<\/a> Zeta doesn\u2019t look like its getting 90% of ANFI:<\/strong> 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 sell, Hapi Journal<\/a> reports.<\/p>\n

Higher bid not enough: <\/strong>Zeta had raised its offer<\/a> to EGP 6.00 per share from EGP 5.48 following a higher bid<\/a> by rival Compass Capital, which had offered to purchase 100% of the company for EGP 5.72 per share.<\/p>\n

Compass Capital is still very much in the running: <\/strong>The Financial Regulatory Authority approved (pdf)<\/a> Thursday Compass Capital\u2019s MTO, which is now offering to pay EGP 6.12 per share, valuing the company at EGP 32 mn. The subscription period will last 10 working days, ending on 28 July. Compass had upped its bid last week<\/a> in response to Zeta raising its offer to EGP 6.00.<\/p>\n

But Zeta isn\u2019t down and out just yet:<\/strong> Sources tell Al Mal<\/a> that Zeta is planning on lodging a new bid for the company, without providing further information. Egyptian capital market regulations allow companies to submit a new purchase offer within five working days of a previous offer.<\/p>\n

Other bidders appear to have fallen by the wayside:<\/strong> Offers to acquire ANFI had come from Tycoon Holding<\/a>, which offered to acquire a 90% stake for EGP 5.60 per share, as well as Kayan Sustainable Development<\/a>, Zaldi Capital<\/a>, and a group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan. Gulf lender Abu Dhabi Islamic Bank is the selling party<\/strong> and owns almost 85% of the company, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 sell, Hapi Journal reports. Higher […]<\/p>\n","protected":false},"author":1,"featured_media":563622,"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":[469,3714,102,998,72,7128,3713],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563621","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-capital-markets","tag-compass-capital","tag-enterpriseam","tag-ma-watch","tag-zeta-investments","wpautop","entry"],"acf":{"mongo_id":"2aaa16cb-aba6-4c31-bfbf-9bad078529eb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/96.jpg","photo_position":"above","related_issue":[563613],"teaser":"","voice_url":""},"yoast_head":"\nANFI shareholders snub Zeta MTO as Compass gets FRA approval for rival bid - 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\/07\/11\/anfi-shareholders-snub-zeta-mto-as-compass-gets-fra-approval-for-rival-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ANFI shareholders snub Zeta MTO as Compass gets FRA approval for rival bid\" \/>\n<meta property=\"og:description\" content=\"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 sell, Hapi Journal reports. 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Compass\u2019 mandatory tender offer for ANFI will\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566348,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/hong-kongs-zeta-tables-formal-bid-for-brokerage-house-anfi\/","url_meta":{"origin":563621,"position":1},"title":"Hong Kong\u2019s Zeta tables formal bid for brokerage house ANFI","author":"enterpriseam admin","date":"14 June 2021","format":false,"excerpt":"A mandatory tender offer by Hong Kong\u2019s\u00a0Zeta Investments\u00a0targeting up to 90% of\u00a0brokerage house ANFI kicks off tomorrow,\u00a0the EGX said today\u00a0in a bulletin. Shareholders of the Alexandria National Company for Financial Investments (ANFI), will get an option to sell at EGP 5.48 a share \u2014 a price which values the entire\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":566396,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/tycoon-holding-submits-rival-mto-for-brokerage-house-anfi\/","url_meta":{"origin":563621,"position":2},"title":"Tycoon Holding submits rival MTO for brokerage house ANFI","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"Tycoon Holding has submitted a bid to launch a mandatory tender offer for 90% of brokerage house Alexandria National Company for Financial Investments (ANFI). The move comes shortly after Hong Kong\u2019s Zeta Investments lodged a rival offer eyeing the same stake, the Financial Regulatory Authority said in a statement (pdf).\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":563905,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/28\/tycoon-to-officially-kick-off-bid-for-anfi\/","url_meta":{"origin":563621,"position":3},"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 "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\/278.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563121,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/20\/the-bidding-war-for-anfi-continues\/","url_meta":{"origin":563621,"position":4},"title":"The bidding war for ANFI continues...","author":"enterpriseam admin","date":"20 June 2021","format":false,"excerpt":"Compass Capital has reportedly thrown its hat in the ring for a 90% stake in ANFI: Private equity firm Compass Capital is reportedly looking to join the rush to acquire Alexandria National Company for Financial Investments\u2019 (ANFI), Al Mal reports, citing unnamed sources. The company is looking to submit a\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\/249.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":563621,"position":5},"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 "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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563621","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=563621"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563621\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563622"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563621"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563621"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}