{"id":574036,"date":"2020-08-27T04:16:34","date_gmt":"2020-08-27T04:16:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/27\/imex-intl-plans-to-acquire-over-50-of-egypts-nile-cotton-ginning\/"},"modified":"2020-08-27T04:16:34","modified_gmt":"2020-08-27T04:16:34","slug":"imex-intl-plans-to-acquire-over-50-of-egypts-nile-cotton-ginning","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/27\/imex-intl-plans-to-acquire-over-50-of-egypts-nile-cotton-ginning\/","title":{"rendered":"IMEX Int\u2019l plans to acquire over 50% of Egypt\u2019s Nile Cotton Ginning"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>M&A WATCH- Energy trading company <\/strong><strong><a href=\"https:\/\/www.imexegypt.com\/\">IMEX International<\/a><\/strong><strong> is planning to acquire<\/strong><strong> at least 50% of Nile Cotton Ginning<\/strong>, according to <a href=\"https:\/\/bit.ly\/31tkuZ2\">a letter<\/a> to the Financial Regulatory Authority (FRA). IMEX told the market regulator it will submit a mandatory tender offer for EGP 50 per share. The company has appointed <a href=\"http:\/\/egytrendfc.com\/\">EgyTrend<\/a> as its financial advisor. A group of unnamed investors with stakes in Nile Cotton are looking to buy a 7% stake held by the company\u2019s workers\u2019 union. The offer has already received a sign off from the FRA earlier this month, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1ad8087a-c4ab-4f2f-8e8c-c0fe069fa1cf\">we noted recently<\/a>. The company has been the subject of a drawn out dispute that arose after a court ruling in 2011 to reverse the company\u2019s Mubarak-era sale to private investors.<\/p>\n<p><strong>Could a sale resolve the decade-long dispute?<\/strong> Nile Cotton\u2019s shareholders \u2014 which include a large number of private individuals and companies as well as the company\u2019s workers\u2019 union \u2014 have been seeking settlement with the government over the ownership dispute. The shareholders also want to use a portion of the company\u2019s land bank to develop residential projects. A sale to IMEX could give the company much-needed liquidity to complete the settlement agreement. The government\u2019s investment dispute resolution committee had <a href=\"https:\/\/bit.ly\/3jdtWpe\">reached a settlement agreement<\/a> with the company that will see Nile Cotton pay EGP 231.1 mn to the Holding Company for Construction and Development. The agreement came as Nile Cotton\u2019s shareholders had been looking to reach a settlement in hopes of <a href=\"https:\/\/bit.ly\/2YF7PjN\">resuming trading<\/a> on the company\u2019s shares on the EGX after an eight-year pause. Public Enterprises Minister Hisham Tawfik had said negotiations on the settlement would resume this week, according to <a href=\"https:\/\/www.mubasher.info\/news\/3519563\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D8%B3%D8%AA%D9%83%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%85%D9%81%D8%A7%D9%88%D8%B6%D8%A7%D8%AA-%D9%85%D8%B9-%D9%85%D8%B3%D8%AA%D8%AB%D9%85%D8%B1%D9%8A-%D8%A7%D9%84%D9%86%D9%8A%D9%84-%D9%84%D8%AD%D9%84%D9%8A%D8%AC-%D8%A7%D9%84%D8%A3%D9%82%D8%B7%D8%A7%D9%86-%D9%88%D8%B7%D9%86%D8%B7%D8%A7-%D9%84%D9%84%D9%83%D8%AA%D8%A7%D9%86-%D8%A7%D9%84%D8%A3%D8%B3%D8%A8%D9%88%D8%B9-%D8%A7%D9%84%D9%85%D9%82%D8%A8%D9%84\/\">Mubasher<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Energy trading company IMEX International is planning to acquire at least 50% of Nile Cotton Ginning, according to a letter to the Financial Regulatory Authority (FRA). IMEX told the market regulator it will submit a mandatory tender offer for EGP 50 per share. The company has appointed EgyTrend as its financial advisor. A [&hellip;]<\/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":[8572],"tags":[957,72,7128,4241,2380,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574036","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-dispute-watch","tag-enterpriseam","tag-ma-watch","tag-nile-cotton-ginning","tag-speed-round","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"c80776e2-3739-47ff-89ba-db95310ffd36","is_powered_by":true,"section_story_id":"73e68855-c8b6-40b1-a34f-a562b93f8ea0","story_type":"1","photo_url":"","photo_position":"above","related_issue":[574026],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IMEX Int\u2019l plans to acquire over 50% of Egypt\u2019s Nile Cotton Ginning - 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\/2020\/08\/27\/imex-intl-plans-to-acquire-over-50-of-egypts-nile-cotton-ginning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMEX Int\u2019l plans to acquire over 50% of Egypt\u2019s Nile Cotton Ginning\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- Energy trading company IMEX International is planning to acquire at least 50% of Nile Cotton Ginning, according to a letter to the Financial Regulatory Authority (FRA). IMEX told the market regulator it will submit a mandatory tender offer for EGP 50 per share. The company has appointed EgyTrend as its financial advisor. 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The energy trading company has originally planned to acquire a 50% stake in\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/128.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574138,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/31\/imex-international-acquisition-over-nile-cotton-ginning-stumbles\/","url_meta":{"origin":574036,"position":1},"title":"IMEX International acquisition over Nile Cotton Ginning stumbles","author":"enterpriseam admin","date":"31 August 2020","format":false,"excerpt":"M&A WATCH- Is IMEX International\u2019s acquisition of Nile Cotton Ginning stumbling? Energy trading company IMEX International\u2019s offer to acquire 50% of Nile Cotton Ginning has been plunged into uncertainty after majority shareholder Samir Afifiy and associates who collectively own 13% of the company refused IMEX\u2019s offer price, unnamed sources told\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574591,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/15\/nile-cotton-ginning-board-thinks-imex-offer-price-is-low\/","url_meta":{"origin":574036,"position":2},"title":"Nile Cotton Ginning board thinks IMEX offer price is low","author":"enterpriseam admin","date":"15 September 2020","format":false,"excerpt":"M&A WATCH- Nile Cotton Ginning board thinks IMEX offer price is low: Nile Cotton Ginning's board of directors believe that IMEX International's mandatory tender offer to purhcase at least 51% of the company's shares at EGP 50 apiece is an undervaluation and needs an upward revision, according to an EGX\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":574674,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/imex-acquisition-of-nile-cotton-on-track-to-wrap-up-next-week\/","url_meta":{"origin":574036,"position":3},"title":"IMEX acquisition of Nile Cotton on track to wrap up next week?","author":"enterpriseam admin","date":"17 September 2020","format":false,"excerpt":"M&A WATCH- IMEX acquisition of Nile Cotton on track to wrap up next week? An ongoing mandatory tender offer from energy trading company IMEX International to acquire at least 51% of Nile Cotton Ginning for EGP 50 \/ share is set to close successfully next week. With a 63% subscription\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575141,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/04\/imex-acquires-94-of-nile-cotton-ginning\/","url_meta":{"origin":574036,"position":4},"title":"IMEX acquires 94% of Nile Cotton Ginning","author":"enterpriseam admin","date":"4 October 2020","format":false,"excerpt":"IMEX International acquired 93.9% of Nile Cotton Ginning on Thursday for EGP 2.48 bn, buying 49.76 mn shares at EGP 50 apiece, Al Mal reports, citing a disclosure to the EGX on Thursday. EgyTrend is acting as IMEX\u2019s financial advisor on the transaction.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":584689,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/04\/another-dispute-with-a-foreign-investor-is-settled\/","url_meta":{"origin":574036,"position":5},"title":"Another dispute with a foreign investor is settled","author":"enterpriseam admin","date":"4 April 2023","format":false,"excerpt":"NCGC will pay EGP 231 mn to settle","rel":"","context":"In &quot;DISPUTE WATCH&quot;","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/135.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\/574036","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=574036"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574036\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574026"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574036"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574036"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}