{"id":566366,"date":"2021-06-15T13:58:39","date_gmt":"2021-06-15T13:58:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/15\/elsewedy-has-a-busy-pipeline-of-acquisitions-in-2h2021-and-further-into-2022\/"},"modified":"2021-06-15T13:58:39","modified_gmt":"2021-06-15T13:58:39","slug":"elsewedy-has-a-busy-pipeline-of-acquisitions-in-2h2021-and-further-into-2022","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/15\/elsewedy-has-a-busy-pipeline-of-acquisitions-in-2h2021-and-further-into-2022\/","title":{"rendered":"Elsewedy has a busy pipeline of acquisitions in 2H2021, and further into 2022"},"content":{"rendered":"

Elsewedy Electric is aiming to close three new acquisitions and greenfield <\/strong>investments in the second half of the year,<\/strong> a plan which will involve acquiring majority stakes in unnamed technology, cable, and electric equipment providers, the company\u2019s M&A director, Ahmed Nabil, told business information platform Acuris<\/a>. The company is looking at targets with a value up to USD 100 mn \u2014 or more if it makes strategic sense, Nabil said, without specifying where the targets are based. A team from Elsewedy is in \u201cadvanced talks\u201d to finalize the three agreements. More transactions are also planned for next year, Nabil said.<\/p>\n

Elsewedy had been shortlisted by Portugese authorities to conduct due diligence on<\/strong> Portugese power group <\/strong>Efacec<\/a><\/strong>, Nabil said, but declined to provide any further information. Efacec reported a topline of EUR 440 mn in 2020.<\/p>\n

Debt is on the menu: <\/strong>Elsewedy will consider debt to cover some of the investment costs. It is also open to bigger-ticket acquisitions should they \u201cmake strategic sense,\u201d Nabil added.<\/p>\n

Elsewedy is currently on the lookout for financial, tax, and legal advisors to work on due diligence studies,<\/strong> and will also welcome recommendations from sell-side advisors for future acquisition prospects, Nabil noted.<\/p>\n

Elsewedy recently acquired two power transformer companies in South Asia,<\/strong> PT CG Power Indonesia<\/a> and Karachi-based Validus Engineering<\/a>, in transactions worth a combined USD 60 mn<\/a>. The acquisitions were part of the EGX-listed company\u2019s push to extend its focus beyond its core markets in MENA, Africa, and Europe.<\/p>\n

CATCH UP QUICK-<\/strong> Orascom Investment Holding (OIH) subsidiary Orascom Pyramids has agreed with the <\/strong>Holding Company for Tourism and Hotels (HOTAC) to invest EGP 200 mn in the Giza sound and light show revamp<\/strong>, Hapi Journal<\/a> reports. The project<\/a> is slated for implementation within 16 months<\/a> from the date the land is received. Under the agreement, Orascom Pyramids will obtain the management rights for 15 years, while Misr Company for Sound and Light, affiliated to HOTAC, will acquire 17% of the project\u2019s annual revenues with the minimum of EGP 36 mn, with a cumulative increase of 7% annually.<\/p>\n

CLARIFICATION- 15 June 2021<\/em><\/p>\n

The story clarifies that Elsewedy is looking at targets with a value up to USD 100 mn \u2014 or more if it makes strategic sense. A previous version of the story said that the company plans to target companies with equity worth USD 100 mn.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Elsewedy Electric is aiming to close three new acquisitions and greenfield investments in the second half of the year, a plan which will involve acquiring majority stakes in unnamed technology, cable, and electric equipment providers, the company\u2019s M&A director, Ahmed Nabil, told business information platform Acuris. The company is looking at targets with a value […]<\/p>\n","protected":false},"author":1,"featured_media":566367,"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":[152,633,125,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-elsewedy-electric","tag-enterprisepm","tag-investment-watch","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"40876bbc-c57d-4a13-ae88-d8f432b408f9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/491.jpg","photo_position":"above","related_issue":[566363],"teaser":"","voice_url":""},"yoast_head":"\nElsewedy has a busy pipeline of acquisitions in 2H2021, and further into 2022 - 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\/06\/15\/elsewedy-has-a-busy-pipeline-of-acquisitions-in-2h2021-and-further-into-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elsewedy has a busy pipeline of acquisitions in 2H2021, and further into 2022\" \/>\n<meta property=\"og:description\" content=\"Elsewedy Electric is aiming to close three new acquisitions and greenfield investments in the second half of the year, a plan which will involve acquiring majority stakes in unnamed technology, cable, and electric equipment providers, the company\u2019s M&A director, Ahmed Nabil, told business information platform Acuris. 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Abdelmeguid was previously executive director of investment banking at HC Securities and Investment and was earlier commercial and shared services manager at PICO Energy. He began his career as an investment banker\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":566731,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/","url_meta":{"origin":566366,"position":1},"title":"Year of M&A continues with Elsewedy, Raya Contact Center entering the fray","author":"enterpriseam admin","date":"11 July 2021","format":false,"excerpt":"Elsewedy to snap up a controlling stake in Egypt\u2019s International Cables Company in EGP 410 mn transaction: Elsewedy Electric has signed a sale and purchase agreement to acquire 99.25% of Egypt-based cablemaker International Cables Company (ICC) for EGP 410 mn transaction, according to an EGX disclosure (pdf). The transaction is\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\/7\/377.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556152,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/13\/shahinaz-foda-replaces-frederic-abbal-on-elsewedy-electric-board-essam-abdelhadi-joins-advisory-board-of-nawah-scientific\/","url_meta":{"origin":566366,"position":2},"title":"Shahinaz Foda replaces Frederic Abbal on ElSewedy Electric board + Essam Abdelhadi joins advisory board of Nawah Scientific","author":"enterpriseam admin","date":"13 October 2021","format":false,"excerpt":"Shahinaz Nabil Foda will replace Frederic Christian Abbal on the board of Elsewedy Electric, following Abbal\u2019s resignation, the company said in a statement (pdf) today.Essam Abdelhadi (LinkedIn), former VP for the Middle East, Turkey, Africa and Pakistan at health tech company Abbott, has joined the advisory board of Egyptian life\u2026","rel":"","context":"In "Moves"","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573569,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/diplomacy-foreign-trade-on-10-august-2020\/","url_meta":{"origin":566366,"position":3},"title":"Diplomacy + Foreign Trade on 10 August 2020","author":"enterpriseam admin","date":"10 August 2020","format":false,"excerpt":"Sudan says it\u2019s boycotting new GERD talks over Ethiopian unilateralism \u2014 will Egypt follow suit? Sudan will not attend a new round of talks over the Grand Ethiopian Renaissance Dam (GERD) slated for today, citing Ethiopia\u2019s refusal to commit to a filling timetable for the dam\u2019s reservoir, one of the\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547016,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/06\/elsewedy-electric-targets-usd-1-5-bn-investment-in-african-renewables\/","url_meta":{"origin":566366,"position":4},"title":"Elsewedy Electric targets USD 1.5 bn investment in African renewables","author":"enterpriseam admin","date":"6 June 2022","format":false,"excerpt":"Elsewedy Electric could invest as much as USD 1.5 bn in three renewable energy projects in Africa before the end of the year, CEO Ahmed Elsewedy told us, confirming reports by Hapi Journal.Nothing is set in stone: Elsewedy cautioned that the group\u2019s future plans are still under consideration, adding that\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\/6\/155.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621906,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/21\/earnings-watch-elsewedy-electrics-net-profit-and-revenues-fall-in-3q2018\/","url_meta":{"origin":566366,"position":5},"title":"Earnings watch: Elsewedy Electric\u2019s net profit and revenues fall in 3Q2018","author":"enterpriseam admin","date":"21 November 2018","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric\u2019s consolidated net profit fell to EGP 1.16 bn in 3Q2018 from EGP 1.58 bn during the same quarter last year, the company said in its earnings release (pdf). 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