{"id":563802,"date":"2021-07-25T04:00:22","date_gmt":"2021-07-25T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/"},"modified":"2021-07-25T04:00:22","modified_gmt":"2021-07-25T04:00:22","slug":"tycoon-isnt-out-of-the-race-for-anfi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/","title":{"rendered":"Tycoon isn\u2019t out of the race for ANFI"},"content":{"rendered":"

<\/a> Tycoon back in the running for ANFI: <\/strong>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)<\/a> last Sunday. Tycoon\u2019s offer values ANFI at EGP 32.7 mn<\/sup>, and if successful would see the investment company acquire a 90% stake<\/a> (4.7 mn shares) in the firm.<\/p>\n

This would be the highest offer yet for the investment firm<\/strong>, beating out Compass Capital\u2019s EGP 6.12 per share offer<\/a>, and Zeta investments\u2019 EGP 6.00 bid which was rejected by shareholders earlier this month. Tycoon is targeting a 90% stake in the company<\/p>\n

Tycoon had <\/strong>made its offer for 90% of ANFI<\/a><\/strong> in June <\/strong>in what has turned into a bidding war<\/a> that has also garnered interest from 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 ADIB is the seller in the transaction.<\/p>\n

OTHER M&A NEWS- <\/strong><\/p>\n

Amoun Pharma completed <\/strong>the sale of 99.9% of its shares<\/a><\/strong> to Abu Dhabi sovereign fund <\/strong>ADQ in Thursday\u2019s trading session<\/strong>, the company announced to the EGX, according to Al Mal<\/a>. Shareholders had agreed to sell 271.78 mn of the company's 272.2 mn shares to ADQ subsidiary Ultra Welfare, with ADQ offering EGP 37.8 per share and valuing the company at almost EGP 10.3 bn.<\/p>\n

Ashry Steel<\/a><\/strong> is in talks to acquire <\/strong>Arco Steel<\/a><\/strong>, and is negotiating with a number of Kuwaiti and Saudi investors who could take part in the purchase, Ashry Steel Chairman Ayman El Ashry told Enterprise, denying a report by Al Shorouk<\/a> that claimed company shareholders had already agreed to sell their stakes. El Ashry said he expects the acquisition to formally move forward in August, but did not reveal the value of the potential purchase.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 would see the investment company […]<\/p>\n","protected":false},"author":1,"featured_media":563803,"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":[298,299,3714,3872,998,72,76,3748,7128,427,4086,90,3749],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563802","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-abu-dhabi","tag-adq","tag-alexandria-national-company-for-financial-investments","tag-amoun-pharma","tag-compass-capital","tag-enterpriseam","tag-financial-regulatory-authority","tag-kayan-sustainable-development","tag-ma-watch","tag-pharma","tag-tycoon-holding","tag-uae","tag-zaldi-capital","wpautop","entry"],"acf":{"mongo_id":"358176c5-ac0f-4633-ad4b-7ae05178a44a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/227.jpg","photo_position":"above","related_issue":[563790],"teaser":"","voice_url":""},"yoast_head":"\nTycoon isn\u2019t out of the race for 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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tycoon isn\u2019t out of the race for ANFI\" \/>\n<meta property=\"og:description\" content=\"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 would see the investment company […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-25T04:00:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.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\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tycoon isn\u2019t out of the race for ANFI\",\"datePublished\":\"2021-07-25T04:00:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\"},\"wordCount\":307,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/227.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Abu Dhabi\",\"ADQ\",\"Alexandria National Company for Financial Investments\",\"Amoun Pharma\",\"Compass Capital\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"Kayan Sustainable Development\",\"M&A Watch\",\"pharma\",\"Tycoon Holding\",\"UAE\",\"Zaldi Capital\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/tycoon-isnt-out-of-the-race-for-anfi\/\",\"name\":\"Tycoon isn\u2019t out of the race for ANFI - 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The Emirati lender said as much on Sunday, announcing that it had\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\/2021\/8\/456.jpg?fit=%2C&ssl=1&resize=350%2C200","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":563802,"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":564170,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/","url_meta":{"origin":563802,"position":3},"title":"Is this ANFI bidding war finally over?","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"Tycoon to acquire at least 85% of ANFI: Abu Dhabi Islamic Bank Egypt (ADIB) has approved Tycoon Holding\u2019s offer to acquire its stake in Alexandria National Company for Financial Investment (ANFI), the Emirati lender said in an EGX statement (pdf) this morning. ADIB Egypt owns almost 85% of the company,\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\/2021\/8\/427.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":563802,"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":563477,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/these-alexandria-bidding-wars-have-us-learning-auction-chants\/","url_meta":{"origin":563802,"position":5},"title":"These Alexandria bidding wars have us learning auction chants","author":"enterpriseam admin","date":"5 July 2021","format":false,"excerpt":"Compass Capital ups ANFI bid in response to rival offer: Private equity outfit Compass Capital has made a higher offer to acquire 90% of Alexandria National Company for Financial Investments (ANFI), following in the footsteps of a rival bidder, Hong Kong-based Zeta Investments. 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563802","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=563802"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563802\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563790"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563803"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563802"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563802"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}