{"id":574467,"date":"2020-09-10T04:09:13","date_gmt":"2020-09-10T04:09:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/"},"modified":"2020-09-10T04:09:13","modified_gmt":"2020-09-10T04:09:13","slug":"imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/","title":{"rendered":"IMEX to submit offer to acquire 100% of Nile Cotton Ginning"},"content":{"rendered":"

<\/a> M&A WATCH- IMEX to submit offer to acquire 100% of Nile Cotton Ginning:<\/strong> IMEX<\/a>International<\/a> has submitted an offer to purchase 100% of Nile Cotton Ginning, the Financial Regulatory Authority (FRA) said in a statement (pdf)<\/a> on Wednesday. The energy trading company has originally planned to acquire a 50% stake in the Nile Cotton, but after the regulator ordered them to purchase a minimum 51% stake it will now look to buy all 53 mn shares in the firm for EGP 50 apiece. IMEX plans to finance 75% of the purchase through a loan from the National Bank of Egypt, and the remaining 25% from its own capital, the FRA said.<\/p>\n

Advisors: <\/strong>The company has appointed EgyTrend<\/a> as its financial advisor on the transaction.<\/p>\n

Background:<\/strong> IMEX\u2019s original offer to acquire 50% of Nile Cotton Ginning was plunged into uncertainty after majority shareholder Samir Afifiy and associates, who collectively own 13% of the company, refused IMEX\u2019s offer price last month<\/a>, said they would not accept any offer below EGP 70 per share. Nile Cotton Ginning has been mired in a decade-long dispute that arose after a court ruling in 2011 to reverse the company\u2019s Mubarak-era sale to private investors. The ruling nullified the privatization<\/a> claiming that the company had been undervalued. An appeal was turned down in 2013 by the Administrative Court. The government\u2019s investment dispute resolution committee reached a settlement agreement with the company that will see Nile Cotton pay EGP 231.1 mn to the Holding Company for Construction and Development, as it looks to resume trading on the EGX after an eight-year hiatus.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- IMEX to submit offer to acquire 100% of Nile Cotton Ginning: IMEXInternational has submitted an offer to purchase 100% of Nile Cotton Ginning, the Financial Regulatory Authority (FRA) said in a statement (pdf) on Wednesday. The energy trading company has originally planned to acquire a 50% stake in the Nile Cotton, but after […]<\/p>\n","protected":false},"author":1,"featured_media":574468,"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":[72,76,248,4241,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-574467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-financial-regulatory-authority","tag-national-bank-of-egypt","tag-nile-cotton-ginning","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5a0f52b3-3a72-4e04-b34b-5779879dbdcd","is_powered_by":true,"section_story_id":"f5b51152-7fc0-4084-8b84-8a767cb6260a","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/9\/128.jpg","photo_position":"above","related_issue":[574457],"teaser":"","voice_url":""},"yoast_head":"\nIMEX to submit offer to acquire 100% of 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\/09\/10\/imex-to-submit-offer-to-acquire-100-of-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 to submit offer to acquire 100% of Nile Cotton Ginning\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- IMEX to submit offer to acquire 100% of Nile Cotton Ginning: IMEXInternational has submitted an offer to purchase 100% of Nile Cotton Ginning, the Financial Regulatory Authority (FRA) said in a statement (pdf) on Wednesday. The energy trading company has originally planned to acquire a 50% stake in the Nile Cotton, but after […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-10T04:09:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/128.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\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IMEX to submit offer to acquire 100% of Nile Cotton Ginning\",\"datePublished\":\"2020-09-10T04:09:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/\"},\"wordCount\":265,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/9\/128.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Financial Regulatory Authority\",\"National Bank of Egypt\",\"Nile Cotton Ginning\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/09\/10\/imex-to-submit-offer-to-acquire-100-of-nile-cotton-ginning\/\",\"name\":\"IMEX to submit offer to acquire 100% of Nile Cotton Ginning - 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IMEX told the market regulator it will submit a mandatory tender offer for EGP 50 per share. The company has appointed EgyTrend\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":574138,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/31\/imex-international-acquisition-over-nile-cotton-ginning-stumbles\/","url_meta":{"origin":574467,"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 "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\/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":574467,"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 "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":575141,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/04\/imex-acquires-94-of-nile-cotton-ginning\/","url_meta":{"origin":574467,"position":3},"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 "Basic Materials + Commodities"","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":574674,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/17\/imex-acquisition-of-nile-cotton-on-track-to-wrap-up-next-week\/","url_meta":{"origin":574467,"position":4},"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 "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\/201.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573844,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/nile-cotton-ginning-investors-looking-to-purchase-7-06-stake-from-workers-union-for-egp-183-mn\/","url_meta":{"origin":574467,"position":5},"title":"Nile Cotton Ginning investors looking to purchase 7.06% stake from worker\u2019s union for EGP 183 mn","author":"enterpriseam admin","date":"19 August 2020","format":false,"excerpt":"M&A WATCH- A group of investors in state-owned Nile Cotton Ginning want to buy out the company\u2019s workers\u2019 union, offering EGP 183 mn for the entire 7.06% stake the union holds in the company, union head Khairy Marzouk tells Al Mal. The Financial Regulatory Authority has signed off on 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574467","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=574467"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/574467\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/574457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/574468"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=574467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=574467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=574467"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=574467"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=574467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}