{"id":565755,"date":"2021-04-28T13:53:23","date_gmt":"2021-04-28T13:53:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/"},"modified":"2021-04-28T13:53:23","modified_gmt":"2021-04-28T13:53:23","slug":"orascom-investment-to-sell-pakistan-internet-subsidiary","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/","title":{"rendered":"Orascom Investment to sell Pakistan internet subsidiary"},"content":{"rendered":"

Naguib Sawiris\u2019 OIH to sell stake in Pakistan-based submarine cables business: <\/strong>Orascom Investment Holding\u2019s board of directors has preliminarily approved selling the company\u2019s entire stake in internet service provider Transworld Associates<\/a> (TWA), the company said in a regulatory filing (pdf)<\/a>. OIH owns a 51% stake in TWA, which is an internet service provider in Pakistan; it also owns a 1.3k km submarine cable system connecting the UAE, Oman, and Pakistan. TWA began operations in 2006 as a JV between OIH, British Virgin Islands-based Orastar Limited, and Omani businessman Omar Abdul Mone\u2019m Yousuf Al Zawawi.<\/p>\n

Separately, OIH\u2019s board accepted the resignation of Naguib Sawiris as chairman. <\/strong>Sawiris will remain OIH\u2019s chief executive and managing director, while former Telecom Egypt Chairman Akil Bashir will serve as a non-executive chairman. The resignation comes after OIH earlier this year spun off its non-bank financial services holdings into a separate company in a horizontal demerger<\/a>. Shortly after, Sawiris also stepped down as board member of Beltone Financial, which was given a new parent following the split and underwent a temporary board reshuffle<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Naguib Sawiris\u2019 OIH to sell stake in Pakistan-based submarine cables business: Orascom Investment Holding\u2019s board of directors has preliminarily approved selling the company\u2019s entire stake in internet service provider Transworld Associates (TWA), the company said in a regulatory filing (pdf). OIH owns a 51% stake in TWA, which is an internet service provider in Pakistan; […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[214,633,7128,2065,618],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565755","post","type-post","status-publish","format-standard","hentry","category-speed-round-ma-watch","tag-cit","tag-enterprisepm","tag-ma-watch","tag-naguib-sawiris","tag-orascom-investment-holding","wpautop","entry"],"acf":{"mongo_id":"f15cfbf3-d11f-48d7-aa82-0ad156772e57","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565750],"teaser":"","voice_url":""},"yoast_head":"\nOrascom Investment to sell Pakistan internet subsidiary - 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\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orascom Investment to sell Pakistan internet subsidiary\" \/>\n<meta property=\"og:description\" content=\"Naguib Sawiris\u2019 OIH to sell stake in Pakistan-based submarine cables business: Orascom Investment Holding\u2019s board of directors has preliminarily approved selling the company\u2019s entire stake in internet service provider Transworld Associates (TWA), the company said in a regulatory filing (pdf). OIH owns a 51% stake in TWA, which is an internet service provider in Pakistan; […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-28T13:53:23+00:00\" \/>\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\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Orascom Investment to sell Pakistan internet subsidiary\",\"datePublished\":\"2021-04-28T13:53:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\"},\"wordCount\":187,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"CIT\",\"EnterprisePM\",\"M&A Watch\",\"Naguib Sawiris\",\"Orascom Investment Holding\"],\"articleSection\":[\"SPEED ROUND: M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/04\/28\/orascom-investment-to-sell-pakistan-internet-subsidiary\/\",\"name\":\"Orascom Investment to sell Pakistan internet subsidiary - 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Sawiris did not specify which assets in the SFE\u2019s portfolio are of particular interest\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\/9\/158.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602978,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/oih-bid-for-nile-sugar-draws-controversy-company-defends-its-stance\/","url_meta":{"origin":565755,"position":1},"title":"OIH bid for Nile Sugar draws controversy, company defends its stance","author":"enterpriseam admin","date":"11 April 2019","format":false,"excerpt":"M&A WATCH- OIH bid for Nile Sugar draws controversy: Naguib Sawiris\u2019 majority-owned Orascom Investment Holding\u2019s (OIH) c. EGP 3.6 bn bid to acquire the Sawiris family-owned Nile Sugar Company is being questioned by analysts and minority shareholders, according to Mubasher. 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Brokerage (PPIB) as part of its plans to expand into ins. services, Al Borsa reports. The firm did not provide any other information on the value or specifics of the transaction.The acquisition will see Catalyst Partners offer\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":550442,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/27\/orascom-investment-holding-shuffles-its-top-two-board-seats\/","url_meta":{"origin":565755,"position":4},"title":"Orascom Investment Holding shuffles its top two board seats","author":"enterpriseam admin","date":"27 October 2022","format":false,"excerpt":"Orascom Investment Holding (OIH) appointed Naguib Sawiris as its new executive chairman and Marwan Hussein as the company\u2019s CEO effective 1 November, according to a disclosure to the bourse (pdf). 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