{"id":565733,"date":"2021-04-27T13:42:23","date_gmt":"2021-04-27T13:42:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week\/"},"modified":"2021-04-27T13:42:23","modified_gmt":"2021-04-27T13:42:23","slug":"rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week\/","title":{"rendered":"Raya\u2019s BariQ to be sold to Mamdouh Abbas\u2019 Intro this week"},"content":{"rendered":"

<\/a> Raya Holding will wrap up the sale of 100% of recycling subsidiary BariQ to<\/strong> Mamdouh Abbas\u2019 <\/strong>Intro Group<\/a><\/strong> this week<\/strong>, the local press<\/a> reports, quoting sources close to the transaction. The sale could value BariQ at close to EGP 500 mn. It will see BariQ\u2019s shares snapped up by a subsidiary of Intro Group, and be added to Abbas\u2019 existing portfolio of recycling businesses, which spans both Egypt and international markets. Raya\u2019s board approved the sale last November<\/a>. The company had received offers from at least six local and foreign investors.<\/p>\n

Advisors: <\/strong>Economic Group Financial Consulting Company<\/strong> was an independent financial advisor on the transaction, while law firm Zaki Hashem & Partners<\/strong> provided counsel. Pharos\u2019 brokerage arm<\/strong>, meanwhile, was sell-side advisor and Compass Capital<\/strong> did the work on the buy-side.<\/p>\n

OTHER M&A NEWS- Al Ahly Capital has finalized its EGP 72 mn acquisition of a 75%<\/strong> stake in e-payments player Momken<\/strong>, Al Mal<\/a> reports, quoting sources in the know. This saw Al Ahly directly purchase shares in an OTC transaction that was executed in recent days. The acquisition also involves a planned capital increase by Al Ahly, which could raise Al Ahly\u2019s stake to over 75% when complete. Proceeds will be used to increase Momken\u2019s points of sale (PoS) across the country to 150k from 100k within a year and a half as well as offer new services in a bid to boost market share. The acquisition brought Momken<\/a> under Tamkeen, a platform for a host of non-banking financial services companies that will operate as subsidiaries of a new holding company, Al Ahly Capital Holding Financial Services. We had more about the state-owned bank\u2019s push into non-banking financial services last month<\/a>.<\/p>\n

Pharos\u2019 brokerage arm executed the transaction<\/strong> on the OTC market.<\/p>\n

Advisors:<\/strong> On the buy-side, ALC Alieldean Weshahi & Partners<\/strong> acted as counsel for Al Ahly and PwC<\/strong> was financial advisor. Zilla Capital<\/strong> and Zaki Hashem & Partners<\/strong>, meanwhile, were the sell-side financial and counsel to Momken.<\/p>\n","protected":false},"excerpt":{"rendered":"

Raya Holding will wrap up the sale of 100% of recycling subsidiary BariQ to Mamdouh Abbas\u2019 Intro Group this week, the local press reports, quoting sources close to the transaction. The sale could value BariQ at close to EGP 500 mn. It will see BariQ\u2019s shares snapped up by a subsidiary of Intro Group, and […]<\/p>\n","protected":false},"author":1,"featured_media":565734,"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":[904,633,3372,7128,614,451,368],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-bariq","tag-enterprisepm","tag-intro-group","tag-ma-watch","tag-raya-holding","tag-recycling","tag-sustainability","wpautop","entry"],"acf":{"mongo_id":"4c89b8ed-dafc-45b6-8b31-50fd406792b8","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/4\/513.jpg","photo_position":"above","related_issue":[565729],"teaser":"","voice_url":""},"yoast_head":"\nRaya\u2019s BariQ to be sold to Mamdouh Abbas\u2019 Intro this week - 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\/04\/27\/rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raya\u2019s BariQ to be sold to Mamdouh Abbas\u2019 Intro this week\" \/>\n<meta property=\"og:description\" content=\"Raya Holding will wrap up the sale of 100% of recycling subsidiary BariQ to Mamdouh Abbas\u2019 Intro Group this week, the local press reports, quoting sources close to the transaction. 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Raya\u2019s board had originally\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\/5\/294.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556470,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/bariq-now-officially-belongs-to-intro-group\/","url_meta":{"origin":565733,"position":1},"title":"BariQ now officially belongs to Intro Group","author":"enterpriseam admin","date":"27 October 2021","format":false,"excerpt":"Raya Holding has completed the EGP 571 mn sale of 100% of its recycling subsidiary BariQ to Intro Group subsidiary Intro Waste Management and Material Recovery, according to a bourse disclosure (pdf). Raya announced initial plans to sell off BariQ in November of last year, which the company said in\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\/10\/283.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576172,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/12\/raya-close-to-offloading-recycling-subsidiary-bariq\/","url_meta":{"origin":565733,"position":2},"title":"Raya close to offloading recycling subsidiary BariQ","author":"enterpriseam admin","date":"12 November 2020","format":false,"excerpt":"M&A WATCH- Raya Holding looks poised to sell the entirety of its recycling subsidiary BariQ to an unnamed foriegn investor after the company\u2019s board of directors gave preliminary approval to an offer earlier this week, according to an EGX disclosure (pdf). Raya earlier this year started receiving offers from interested\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544774,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/21\/intro-group-to-invest-egp-1-bn-in-waste-management-this-year\/","url_meta":{"origin":565733,"position":3},"title":"Intro Group to invest EGP 1 bn in waste management this year","author":"enterpriseam admin","date":"21 March 2022","format":false,"excerpt":"Intro Group subsidiary Intro Sustainable Resources (IRS) is looking to invest some EGP 1 bn in waste recycling this year, Mostafa Khairat \u2014 the CEO of Intro\u2019s waste management arm and BariQ, told Al Mal. IRS was established in 2020 to develop clean energy, waste management and recycling projects through\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/267.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571168,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/six-foreign-and-egyptian-investors-want-a-stake-of-rayas-bariq\/","url_meta":{"origin":565733,"position":4},"title":"Six foreign and Egyptian investors want a stake of Raya\u2019s BariQ","author":"enterpriseam admin","date":"3 May 2020","format":false,"excerpt":"M&A WATCH- At least six foreign and Egyptian investors have shown interest in acquiring a stake in Raya Holding's recycled plastic producer BariQ, including an Egyptian investment institution that seeks full ownership, Al Mal reports, citing an unnamed source Five other foreign and local investors have made non-binding offers to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574080,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/rayas-bariq-receives-fra-approval-for-a-eur-40-mn-green-bond-offering\/","url_meta":{"origin":565733,"position":5},"title":"Raya\u2019s BariQ receives FRA approval for a EUR 40 mn green bond offering","author":"enterpriseam admin","date":"30 August 2020","format":false,"excerpt":"DEBT WATCH- BariQ, Raya\u2019s recycling unit, receives FRA approval for a EUR 40 mn green bond offering: The Financial Regulatory Authority (FRA) has greenlit Raya Holdings\u2019 subsidiary BariQ\u2019s EUR 40 mn green bond issuance, unnamed sources told Al Mal. The company plans to take the green bonds to market by\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/235.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\/565733","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=565733"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565733\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565734"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565733"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565733"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}