{"id":565776,"date":"2021-05-04T13:36:42","date_gmt":"2021-05-04T13:36:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/"},"modified":"2021-05-04T13:36:42","modified_gmt":"2021-05-04T13:36:42","slug":"raya-wraps-up-agreement-to-sell-bariq-to-intro-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/","title":{"rendered":"Raya wraps up agreement to sell BariQ to Intro Group"},"content":{"rendered":"

<\/a> Raya agrees BariQ sale: <\/strong>Raya Holding has signed an agreement with Intro Group<\/a> subsidiary Intro Waste Management to sell 100% of its recycling arm BariQ in a transaction that values the company at more than EGP 490 mn, Raya said in a statement (pdf)<\/a> this morning. Raya\u2019s board had originally given its nod to the sale in November<\/a> before reports surfaced in the local press last week<\/a> suggesting that Mamdouh Abbas\u2019 Intro Group was close to acquiring the company. The company had received offers from at least six local and foreign investors.<\/p>\n

Advisors: Compass Capital<\/strong> was buy-side advisor and Pharos<\/strong>\u2019 brokerage arm had sell-side duties. Zaki Hashem & Partners<\/strong> provided counsel.<\/p>\n

IN OTHER M&A NEWS- Several investors have submitted non-binding offers to acquire a <\/strong>majority stake in Alexandria Medical Services<\/strong>, CI Capital, which is quarterbacking the sale, said in a disclosure to the EGX (pdf)<\/a> today. Alex Medical is the subject of a bidding war, and is being courted by four bidders<\/a> interested in Abu Dhabi Commercial Bank\u2019s 51.5% stake. The bidders are EGX-listed Cleopatra Hospitals Group (CHG), Alexandria for Medical Investment Company (the majority shareholder of Mabaret Al Asafra Hospitals Group), healthcare investment firm Seha Capital, and a consortium that includes Speed Medical. At least two of those bidders, including CHG<\/a> and the Speed Medical consortium<\/a>, were previously said to have fielded initial offers. Final binding offers are expected to be submitted by the third week of May, at which point bidders would have wrapped up due diligence.<\/p>\n

Advisors:<\/strong> EFG Hermes<\/strong> is acting as CHG\u2019s financial advisor, while Arqaam Capital<\/strong> is advising the Mabaret Al Asafra-Tana consortium (aka Alexandria Healthcare Investments). Zilla Capital<\/strong> is advising Mabaret Al Asafra\u2019s shareholders. Prime Capital<\/strong> is advising the Tawasol-Speed Medical-LimeVest consortium. CI Capital<\/strong> is the sell-side advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"

Raya agrees BariQ sale: Raya Holding has signed an agreement with Intro Group subsidiary Intro Waste Management to sell 100% of its recycling arm BariQ in a transaction that values the company at more than EGP 490 mn, Raya said in a statement (pdf) this morning. Raya\u2019s board had originally given its nod to the […]<\/p>\n","protected":false},"author":1,"featured_media":565777,"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":[904,633,3372,1473,7128,614,451,452],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-bariq","tag-enterprisepm","tag-intro-group","tag-investment-banking","tag-ma-watch","tag-raya-holding","tag-recycling","tag-waste-management","wpautop","entry"],"acf":{"mongo_id":"986aa556-52ba-44c4-9f39-6ea3ff80b860","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/294.jpg","photo_position":"above","related_issue":[565772],"teaser":"","voice_url":""},"yoast_head":"\nRaya wraps up agreement to sell BariQ to Intro Group - 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\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Raya wraps up agreement to sell BariQ to Intro Group\" \/>\n<meta property=\"og:description\" content=\"Raya agrees BariQ sale: Raya Holding has signed an agreement with Intro Group subsidiary Intro Waste Management to sell 100% of its recycling arm BariQ in a transaction that values the company at more than EGP 490 mn, Raya said in a statement (pdf) this morning. Raya\u2019s board had originally given its nod to the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-04T13:36:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/294.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\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Raya wraps up agreement to sell BariQ to Intro Group\",\"datePublished\":\"2021-05-04T13:36:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\"},\"wordCount\":305,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/5\/294.jpg?fit=%2C&ssl=1\",\"keywords\":[\"BariQ\",\"EnterprisePM\",\"Intro Group\",\"investment banking\",\"M&A Watch\",\"Raya Holding\",\"recycling\",\"waste management\"],\"articleSection\":[\"SPEED ROUND: M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/04\/raya-wraps-up-agreement-to-sell-bariq-to-intro-group\/\",\"name\":\"Raya wraps up agreement to sell BariQ to Intro Group - 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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":565733,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/27\/rayas-bariq-to-be-sold-to-mamdouh-abbas-intro-this-week\/","url_meta":{"origin":565776,"position":1},"title":"Raya\u2019s BariQ to be sold to Mamdouh Abbas\u2019 Intro this week","author":"enterpriseam admin","date":"27 April 2021","format":false,"excerpt":"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\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\/4\/513.jpg?fit=%2C&ssl=1&resize=350%2C200","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":565776,"position":2},"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":576172,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/12\/raya-close-to-offloading-recycling-subsidiary-bariq\/","url_meta":{"origin":565776,"position":3},"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":571168,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/03\/six-foreign-and-egyptian-investors-want-a-stake-of-rayas-bariq\/","url_meta":{"origin":565776,"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":571093,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/rayas-bariq-peaks-interest-of-foreign-local-investors\/","url_meta":{"origin":565776,"position":5},"title":"Raya\u2019s BariQ peaks interest of foreign, local investors","author":"enterpriseam admin","date":"29 April 2020","format":false,"excerpt":"M&A WATCH- Raya\u2019s BariQ piques foreign, local investors\u2019 interest: Several unnamed investors have expressed interest in Raya Holding\u2019s recycled plastic producer BariQ, Raya said in a disclosure yesterday (pdf). Raya has received offers of interest for minority and majority stakes as well as proposals to buy out the company but\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565776","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=565776"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565776\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565772"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565777"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565776"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565776"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}