{"id":564170,"date":"2021-08-15T13:49:37","date_gmt":"2021-08-15T13:49:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/"},"modified":"2021-08-15T13:49:37","modified_gmt":"2021-08-15T13:49:37","slug":"is-this-anfi-bidding-war-finally-over","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/is-this-anfi-bidding-war-finally-over\/","title":{"rendered":"Is this ANFI bidding war finally over?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Tycoon to acquire at least 85% of ANFI<\/strong>: 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 <a href=\"https:\/\/ent.news\/2021\/8\/ADIB-board-15-Aug.pdf\">EGX statement (pdf)<\/a> this morning. ADIB Egypt owns almost 85% of the company, holding 9% directly and the remainder through its KWIN and ADI Lease subsidiaries.<\/p>\n<p><strong>Tycoon is trying to acquire a 90% stake in ANFI:<\/strong> The company launched <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5261c97e-0976-4b8a-a263-0d79ea2f0404\">a mandatory tender offer<\/a> on 1 August for the company, offering to purchase 4.7 mn shares for EGP 6.25 apiece, valuing the company at EGP 32.7 mn. The MTO, which lasted for 10 working days, closed at the end of today\u2019s trading session, according to an earlier <a href=\"https:\/\/ent.news\/2021\/8\/MTO-Tycoon.pdf\">statement (pdf)<\/a>. It remains unclear whether other shareholders have accepted the company\u2019s offer.<\/p>\n<p><strong>The ANFI bidding war:<\/strong> Tycoon beat several other companies bidding for the company, raising <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4871b8d6-2744-4108-af2b-d3ef0dc80a02\">its initial offer<\/a> to exceed Compass Capital\u2019s EGP 6.12 bid, and Zeta investments\u2019 EGP 6 offer. Tycoon joined the race in June, along with other bidders including <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5e92d627-df3f-439a-b32a-8f7183ef4cd6\">Kayan Sustainable Development<\/a>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/dfe3135e-1f51-4fb6-963b-163a781a6adf\">Zaldi Capital<\/a>, and a group of investors including Egyptian businessman Ahmed El Saba and Saudi Arabia\u2019s Mostafa El Humeidan.<\/p>\n<p><strong>IN OTHER M&A NEWS-<\/strong><\/p>\n<p><strong>GB Auto has completed the sale of its 5% indirect stake in its<\/strong> <strong>Netherlands-based subsidiary MNT Investments<\/strong> to unnamed foreign funds in a EGP 352.7 mn transaction, the company said in EGX statements <sup><\/sup>(pdfs \u2014<a href=\"https:\/\/ent.news\/2021\/8\/GB-Auto-15-Aug-EN.pdf\">here<\/a> and <a href=\"https:\/\/ent.news\/2021\/8\/GB-Auto-15-Aug-EN-2.pdf\">here<\/a>). The sale brings its stake in the company <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/55bf70dd-17f8-4034-a441-b6a35be1779a\">down to 57.26%<\/a>. MNT is the parent company of asset-based lender <a href=\"https:\/\/www.facebook.com\/Mashroey-%D9%85%D8%B4%D8%B1%D9%88%D8%B9%D9%8A-598542883658417\/?hc_ref=ARRdsjq2suFfrFiPtI75buqHai-MyB6F-o23RBLq4znReRSlWZn57gVw8vm4cSGZmL4&fref=nf&__tn__=kC-R\">Mashroey<\/a> and microfinance player <a href=\"https:\/\/www.facebook.com\/tasaheelegypt\/?hc_ref=ARTdyQ6lahw-Fir_ow74fYmM55SBgxlxZqhaQgufXZ629DyqNEHw0IIGwRxb6RZ9yTc&fref=nf&__xts__%5b0%5d=68.ARApEE7UHk-CWOZ9bXoTSzV9WvwSwaSlM0tSIuLcu5WEImQ5LbbEjQDj1tEeI9tbERx1dqpDOQGndHZocYm_LWNlamUhLrOYk9IuV-P8kHVrye7warioyr_ui3Sj5KGd31KSr5vCcfD3AcVcxBOIOZ9K4s60B1kNJMW9cHySyTD_dV_8ykh3tPMNtTmmCXGB5DGetac-sDk671YQN_hP3xd3Xta_-CiE-fJUYk5RymYDXIqpWtm_8EMZ_q_2qHotD90GbPaRnS8uLJMfuQJqbfCNFZh02XTJ_KeTefNkGJi9dQqaWqyHBWg&__tn__=kC-R\">Tasaheel<\/a> and is majority-owned by GB Auto\u2019s financial services arm GB Capital.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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, holding 9% directly and the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":564171,"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":[10045],"tags":[469,3714,633,7128,4086],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-abu-dhabi-islamic-bank","tag-alexandria-national-company-for-financial-investments","tag-enterprisepm","tag-ma-watch","tag-tycoon-holding","wpautop","entry"],"acf":{"mongo_id":"830b0da8-0b77-4aac-933f-f01b202d83ba","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/427.jpg","photo_position":"above","related_issue":[564164],"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>Is this ANFI bidding war finally over? - 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\/08\/15\/is-this-anfi-bidding-war-finally-over\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is this ANFI bidding war finally over?\" \/>\n<meta property=\"og:description\" content=\"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. 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The Emirati lender said as much on Sunday, announcing that it had\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\/2021\/8\/456.jpg?fit=%2C&ssl=1&resize=350%2C200","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":564170,"position":1},"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":[]},{"id":563121,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/20\/the-bidding-war-for-anfi-continues\/","url_meta":{"origin":564170,"position":2},"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 &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\/6\/249.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":564170,"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":564170,"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":563477,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/05\/these-alexandria-bidding-wars-have-us-learning-auction-chants\/","url_meta":{"origin":564170,"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 &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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564170","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=564170"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564170\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564171"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564170"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564170"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}