{"id":566731,"date":"2021-07-11T14:05:39","date_gmt":"2021-07-11T14:05:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/"},"modified":"2021-07-11T14:05:39","modified_gmt":"2021-07-11T14:05:39","slug":"year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/","title":{"rendered":"Year of M&A continues with Elsewedy, Raya Contact Center entering the fray"},"content":{"rendered":"

<\/a> Elsewedy to snap up a controlling stake in Egypt\u2019s <\/strong>International Cables Company<\/a><\/strong> in <\/strong>EGP 410 mn transaction:<\/strong> 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)<\/a>. The transaction is still subject to regulatory approvals.<\/p>\n

Look for as many as two more acquisitions from Elsewedy before the year is done. <\/strong>The company\u2019s M&A director, Ahmed Nabil, has previously said<\/a> the company is aiming to close three transactions in the second half of the year, looking at unidentified technology, electric equipment and cable makers. The company is open to transactions in the USD 100 mn range \u2014 or more if it makes strategic sense, Nabil said.<\/p>\n

What\u2019s ICC? <\/strong>The company employs some 400 people and produces low-, medium- and high-voltage cables as well as telephone cable at a facility in the 10 Ramadan industrial zone set up back in 1989. The company has \u201cachieved robust growth over the past years \u2026 positioning it as an attractive investment \u2026 for strategic investors,\u201d sell-side advisor Al Ahly Pharos said in a statement (pdf)<\/a> without providing further information.<\/p>\n

Advisors:<\/strong> Al Ahly Pharos was financial advisor to the selling shareholders. Our friends at Alieldean Weshahi & Partners were counsel to Elsewedy, while Al Kamel Law Firm had sell-side duty.<\/p>\n

IN OTHER M&A NEWS-<\/strong> Raya Contact Center is on course to acquire an 85% stake <\/strong>in Bahrain-based call center company <\/strong>Gulf Customer Experience (<\/strong>Gulf CX<\/a><\/strong>)<\/strong> in a USD 12 mn transaction, investor relations head Karim Seoudi told Enterprise, confirming a statement to the EGX (pdf)<\/a>. Raya is purchasing a total of 335,829 shares in Gulf CX, with Raya valuing the entire company at USD 14.32 mn, the statement said. The company plans to fully acquire Gulf CX over two stages, the first being the acquisition of 85% of the company, with the two sides expected to ink a final agreement \u201cwithin days.\u201d The remaining 15% should be snapped up over the upcoming three years at most, according to Seoudi.<\/p>\n

Advisors:<\/strong> EFG Hermes is acting as Raya\u2019s financial advisor, while Al Tamimi & Company is acting as counsel, Seoudi tells us.<\/p>\n

Background:<\/strong> Raya had announced in May<\/a> that it was on the verge of acquiring an unnamed call center company based in the Gulf. Raya submitted its initial offer to acquire the call center back in October<\/a>, as part of the company\u2019s plans to expand its footprint in the GCC, particularly in Saudi Arabia.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 still subject to regulatory approvals. […]<\/p>\n","protected":false},"author":1,"featured_media":566732,"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":[152,633,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-elsewedy-electric","tag-enterprisepm","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"59745719-d961-4387-b8bd-2d81aa4a6473","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/377.jpg","photo_position":"above","related_issue":[566727],"teaser":"","voice_url":""},"yoast_head":"\nYear of M&A continues with Elsewedy, Raya Contact Center entering the fray - 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\/07\/11\/year-of-ma-continues-with-elsewedy-raya-contact-center-entering-the-fray\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Year of M&A continues with Elsewedy, Raya Contact Center entering the fray\" \/>\n<meta property=\"og:description\" content=\"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). 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The company is looking\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\/6\/491.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599037,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/elsewedy-electric-acquires-share-capital-of-four-greek-renewable-energy-companies-for-eur-55-mn\/","url_meta":{"origin":566731,"position":1},"title":"Elsewedy Electric acquires share capital of four Greek renewable energy companies for EUR 55 mn","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"M&A WATCH- Elsewedy Electric looking to acquire four Greek renewable energy outfits in EUR 55 mn transaction: Elsewedy Electric has entered into a EUR 55 mn agreement to acquire three wind assets and one hydroelectric company from Greece\u2019s R.F. Energy. All four assets are in Greece, Elsewedy said in a\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\/2022\/1\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592921,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/12\/earnings-watch-elsewedy-electric-oriental-weavers-domty\/","url_meta":{"origin":566731,"position":2},"title":"Earnings watch: Elsewedy Electric, Oriental Weavers, Domty","author":"enterpriseam admin","date":"12 November 2019","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric\u2019s net profit dropped 22.2% to EGP 2.7 bn in 9M2019, down from EGP 3.5 bn during the same period last year, the company said in its earnings release (pdf). Revenues during the first nine months of 2019 increased 14.0% y-o-y to EGP 34.5 bn, which the\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":565845,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/elsewedy-expands-in-south-asia\/","url_meta":{"origin":566731,"position":3},"title":"Elsewedy expands in South Asia","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Elsewedy Electric has acquired two power transformer companies in Indonesia and Pakistan in transactions worth a combined USD 60 mn, the EGX-listed company said in a filing to the EGX (pdf) this morning. Item 1: The company acquired 95% of PT CG Power Indonesia, a company that produces around 10k\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\/332.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576575,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/30\/elsewedy-electric-np-fall-1-4-in-3q2020\/","url_meta":{"origin":566731,"position":4},"title":"Elsewedy Electric NP fall 1.4% in 3Q2020","author":"enterpriseam admin","date":"30 November 2020","format":false,"excerpt":"Elsewedy Electric reported a 1.4% y-o-y dip in 3Q2020 NP to EGP 817 mn from EGP 829 mn the year before, according to a company earnings release (pdf). Revenues during the three-month period fell 12.6% to EGP 11.3 bn from EGP 12.9 bn last year. On a nine-month basis, Elsewedy\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/318.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573928,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/earnings-watch-elsewedy-electric-dice-egypt\/","url_meta":{"origin":566731,"position":5},"title":"Earnings Watch: ElSewedy Electric, Dice Egypt","author":"enterpriseam admin","date":"24 August 2020","format":false,"excerpt":"EARNINGS WATCH- Elsewedy Electric reports 2Q2020 net profits falling 44.8% y-o-y: Elsewedy Electric reported a 44.8% y-o-y decline in net profits to EGP 514.17 mn in 2Q2020, largely as a result of covid-induced disruptions in the broader economy that has slowed operations, the company said yesterday in an earnings release\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\/566731","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=566731"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566731\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566732"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566731"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566731"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}