{"id":577648,"date":"2022-11-30T04:10:07","date_gmt":"2022-11-30T04:10:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/gb-auto-misr-beni-suef-cement-have-separate-arbitration-news-for-us\/"},"modified":"2022-11-30T04:10:07","modified_gmt":"2022-11-30T04:10:07","slug":"gb-auto-misr-beni-suef-cement-have-separate-arbitration-news-for-us","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/30\/gb-auto-misr-beni-suef-cement-have-separate-arbitration-news-for-us\/","title":{"rendered":"GB Auto, Misr Beni Suef Cement have separate arbitration news for us"},"content":{"rendered":"

<\/a> GB Auto has filed an arbitration case against the Algerian government for what it <\/strong>says are \u201csevere damages and losses suffered\u201d<\/strong> due to unspecified measures taken against GB Auto\u2019s units and investments in the country. In an EGX disclosure (pdf)<\/a>, the company says its Algerian units \u2014 GBR Auto and GBR Services \u2014 have suffered at least USD 24 mn in losses due to actions taken by the Algerian government. GB Auto indirectly holds 54% of GBR Auto and 48.8% of GBR Services. GB Auto representatives declined to comment when approached by Enterprise yesterday.<\/p>\n

The case: <\/strong>The company claims that the Algerian government\u2019s actions were in breach of a 1997 investment treaty<\/a> signed between the two countries, which enshrines the protection of investments.<\/p>\n

GB Auto moved into Algeria in 2009 <\/strong>when it set up a JV to distribute trailers before going on to distribute car and tire brands in the country from 2013. Algeria later turned its back on foreign investors<\/strong> in the nation\u2019s auto industry and GB Auto\u2019s operations there have amounted to little more than a rounding error in its results since 2018.<\/p>\n

What we don\u2019t know: <\/strong>GB Auto\u2019s statement does not get into details of its statement of claim against the Algerian government, including how much it is seeking in damages.<\/p>\n

Misr Beni Suef Cement will appeal EGP 380 mn arbitration ruling:<\/p>\n

Misr Beni Suef Cement has filed to appeal a September arbitration ruling<\/strong> by the Cairo Regional Centre for International Commercial Arbitration (CRCICA) that fined the company EGP 380 mn to settle a dispute with Qalaa Holdings\u2019 unit ASEC, according to a disclosure to the EGX (pdf<\/a>). The company filed the case with the Cairo Court of Appeal.<\/p>\n

Background-<\/strong> The dispute dates back<\/a>to October 2020, when Misr Beni Suef began procedures to let go of ASEC, leading ASEC to object and halt production. In turn, Misr Beni-Suef withheld funds from ASEC\u2019s paycheck to prevent it from leaving the partnership with technical staff and engineers. ASEC has been managing Beni-Suef\u2019s factory for over 20 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

GB Auto has filed an arbitration case against the Algerian government for what it says are \u201csevere damages and losses suffered\u201d due to unspecified measures taken against GB Auto\u2019s units and investments in the country. In an EGX disclosure (pdf), the company says its Algerian units \u2014 GBR Auto and GBR Services \u2014 have suffered […]<\/p>\n","protected":false},"author":1,"featured_media":577649,"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":[8678],"tags":[535,9581,957,72,241,5265],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-algeria","tag-asec","tag-dispute-watch","tag-enterpriseam","tag-gb-auto","tag-misr-beni-suef-cement","wpautop","entry"],"acf":{"mongo_id":"f5df51fa-1b1f-4345-a775-3a66242886b9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/502.jpg","photo_position":"above","related_issue":[577633],"teaser":"","voice_url":""},"yoast_head":"\nGB Auto, Misr Beni Suef Cement have separate arbitration news for us - 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\/2022\/11\/30\/gb-auto-misr-beni-suef-cement-have-separate-arbitration-news-for-us\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Auto, Misr Beni Suef Cement have separate arbitration news for us\" \/>\n<meta property=\"og:description\" content=\"GB Auto has filed an arbitration case against the Algerian government for what it says are \u201csevere damages and losses suffered\u201d due to unspecified measures taken against GB Auto\u2019s units and investments in the country. 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ASEC has been managing Beni-Suef\u2019s factory for over 20 years. The dispute started in October 2020, when Misr Beni-Suef began\u2026","rel":"","context":"In "DISPUTE WATCH"","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":675652,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/17\/kb-denim-to-set-up-usd-300-mn-factory\/","url_meta":{"origin":577648,"position":1},"title":"KB Denim to set up USD 300 mn factory","author":"enterpriseam admin","date":"17 November 2025","format":false,"excerpt":"PLUS- Qalaa Holding\u2019s ASEC Cement has won an international arbitration case against Algerian company Zahna Cement","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1215.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":637757,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/23\/algerian-automakers-ready-to-start-exporting-cars-to-egypt\/","url_meta":{"origin":577648,"position":2},"title":"Algerian automakers ready to start exporting cars to Egypt","author":"enterpriseam admin","date":"23 November 2017","format":false,"excerpt":"Algeria is planning on exporting fully-assembled personal cars to Egypt free of customs under the Greater Arab Freetrade Agreement (GAFTA), an unnamed Algerian government official tells Al Masry Al Youm. Various auto factories in Algeria locally assemble global brands, including Skoda, Peugeot, and Renault, which they are hoping to begin\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558508,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/gb-auto-net-income-triples-in-2q-off-of-higher-revenues\/","url_meta":{"origin":577648,"position":3},"title":"GB Auto net income triples in 2Q off of higher revenues","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"GB Auto\u2019s net income more than tripled to EGP 374.3 mn in 2Q2021, compared to EGP 115.8 mn in the same period last year, the company said in an earnings release(pdf). Revenues surged by 81% y-o-y to EGP 7.27 bn during the quarter thanks to improved market conditions and stronger\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638981,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/sawiris-looks-to-annul-ruling-on-his-case-against-algerian-government\/","url_meta":{"origin":577648,"position":4},"title":"Sawiris looks to annul ruling on his case against Algerian government","author":"enterpriseam admin","date":"18 October 2017","format":false,"excerpt":"Sawiris looks to annul ruling on his case against Algerian government: Naguib Sawiris is looking to annul the international court ruling rejecting his c. USD 4 bn claim against the Algerian government over the ownership of Algerian mobile operator Djezzy, Developing Telecoms says. Sawiris reportedly filed an official appeal for\u2026","rel":"","context":"In "EGYPT IN THE NEWS"","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544413,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/02\/gb-auto-mulls-selling-a-portion-of-its-stake-in-mnt-investments\/","url_meta":{"origin":577648,"position":5},"title":"GB Auto mulls selling a portion of its stake in MNT Investments","author":"enterpriseam admin","date":"2 March 2022","format":false,"excerpt":"GB Capital is mulling a partial sale of its Netherlands-based finance subsidiary MNT Investments, which is majority owned by the GB Auto subsidiary, the company announced in a regulatory filing (pdf). The statement did not specify the number of shares GB Capital is looking to sell, but said it began\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\/2022\/3\/19.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\/577648","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=577648"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577648\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577649"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577648"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577648"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}