{"id":578355,"date":"2022-12-26T04:08:16","date_gmt":"2022-12-26T04:08:16","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/b-investments-exits-totalenergies-egypt\/"},"modified":"2022-12-26T04:08:16","modified_gmt":"2022-12-26T04:08:16","slug":"b-investments-exits-totalenergies-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/26\/b-investments-exits-totalenergies-egypt\/","title":{"rendered":"B Investments exits TotalEnergies Egypt"},"content":{"rendered":"

<\/a> B Investments sells entire stake in TotalEnergies Egypt:<\/strong> BPE Partners\u2019 B Investments has agreed to sell its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn, the company said in a statement (pdf)<\/a>. This came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for USD 39 mn, handing TEMA the two shareholders\u2019 combined 15.38% stake in TotalEnergies, a source close to the matter told Enterprise.<\/p>\n

Exiting<\/strong> shareholders could get more: <\/strong>The firm could also get an additional USD 2.2 mn in the transaction in the event of the closure of Adnoc\u2019s acquisition of 50% of TotalEnergies<\/a> from TEMA, B Investments IR head Omar El Labban told Enterprise. The other vehicle would also get an additional USD 3.2 mn if the acquisition goes through, our source said. The transaction is subject to regulatory approvals and is expected to close in 1Q 2023.<\/p>\n

Refresher: <\/strong>Adnoc\u2019s distribution arm had agreed<\/a> in July to acquire 50% of TotalEnergies Egypt for up to USD 203 mn. TEMA \u2014 which holds the 84.6% majority stake \u2014 would sell 34.6% to Adnoc, which along with B Investments\u2019 6.38% stake and the affiliated vehicle\u2019s 9% would result in a 50-50 ownership between the two companies. B Investments ultimately favored an exit, waiving its right of first refusal instead of pre-empting Adnoc\u2019s bid to buy the 34.6% stake TEMA had on offer. The two had been in negotiations<\/a> over the bid over the past few months.<\/p>\n

What they said:<\/strong> \u201cWe\u2019re very glad we\u2019ve concluded our second exit for the year after our exit from Giza Systems<\/a>, which proves the value we are able to create for our assets and our shareholders,\u201d El Labban told us.<\/p>\n

IN OTHER M&A NEWS-<\/strong><\/p>\n

Oriental Weavers welcomes new shareholder \u2026 kind of:<\/strong> Yasmine and Farida Khamis, the two daughters of the late Oriental Weavers chairman Mohamed Khamis<\/a>, have transferred their combined 24.61% stake in the company to FYK Limited, a newly-established company also owned by the two sisters. The EGP 1.38 bn transaction is part of a restructuring of their investments, according to three separate EGX disclosures (here<\/a>, here<\/a>, and here<\/a> \u2014 pdfs).<\/p>\n

Keeping it in the family: <\/strong>FYK Limited is fully owned by the two sisters, the company\u2019s IR head told Al Borsa<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

B Investments sells entire stake in TotalEnergies Egypt: BPE Partners\u2019 B Investments has agreed to sell its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn, the company said in a statement (pdf). This came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for […]<\/p>\n","protected":false},"author":1,"featured_media":578356,"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":[7363],"tags":[140,72,7128,1202,1990],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-enterpriseam","tag-ma-watch","tag-oriental-weavers","tag-totalenergies","wpautop","entry"],"acf":{"mongo_id":"33e3757d-a1c9-4ef9-9f8f-76a5f7bee4cf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/516.jpg","photo_position":"above","related_issue":[578346],"teaser":"","voice_url":""},"yoast_head":"\nB Investments exits TotalEnergies Egypt - 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\/12\/26\/b-investments-exits-totalenergies-egypt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"B Investments exits TotalEnergies Egypt\" \/>\n<meta property=\"og:description\" content=\"B Investments sells entire stake in TotalEnergies Egypt: BPE Partners\u2019 B Investments has agreed to sell its entire 6.38% stake in TotalEnergies Egypt to TotalEnergies Marketing Afique (TEMA) for USD 27.6 mn, the company said in a statement (pdf). 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The transaction came alongside a separate BPE Partners-backed vehicle\u2019s exit of its 9% stake to TEMA for USD\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\/2023\/2\/TotalEnergies-Logo-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581592,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/adnoc-distribution-closes-acquisition-of-50-of-totalenergies-egypt\/","url_meta":{"origin":578355,"position":1},"title":"Adnoc Distribution closes acquisition of 50% of TotalEnergies Egypt","author":"enterpriseam admin","date":"16 February 2023","format":false,"excerpt":"The acquisition marks Adnoc\u2019s entry into the Egyptian fuel distribution market","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\/2023\/2\/ADNOC-1600-px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548237,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/01\/b-investments-has-a-month-to-pre-empt-adnocs-play-for-half-of-totalenergies-egypt\/","url_meta":{"origin":578355,"position":2},"title":"B investments has a month to pre-empt Adnoc\u2019s play for half of TotalEnergies Egypt","author":"enterpriseam admin","date":"1 August 2022","format":false,"excerpt":"Could B Investments pre-empt Adnoc\u2019s bid for TotalEnergies Egypt? Private equity outfit B Investments is \u201cevaluating all options\u201d after Adnoc Distribution agreed to buy 50% of TotalEnergies Egypt last week, B Investments IR head Omar El Labban told Enterprise.B Investments is the only minority shareholder in TotalEnergies Egypt: Under the\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\/8\/97.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548881,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/25\/b-investments-now-has-until-mid-sept-to-mull-adnocs-bid-for-totalenergies-egypt\/","url_meta":{"origin":578355,"position":3},"title":"B Investments now has until mid-Sept to mull Adnoc\u2019s bid for TotalEnergies Egypt","author":"enterpriseam admin","date":"25 August 2022","format":false,"excerpt":"Filing error gives B Investments more time to respond to Adnoc\u2019s bid for TotalEnergies Egypt: B Investments has been granted an extension until 15 September to decide whether it will preempt Adnoc\u2019s bid to acquire 50% of TotalEnergies Egypt, the company said in an EGXdisclosure (pdf) yesterday. The private equity\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\/8\/389.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578994,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/flush-after-exits-b-investments-targets-healthcare-food-sectors\/","url_meta":{"origin":578355,"position":4},"title":"Flush after exits, B Investments targets healthcare, food sectors","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"EGX-listed private equity firm B Investments intends to invest EGP 2 bn in the healthcare and food sectors in 2023, Chairman Hazem Barakat reportedly told Bloomberg Asharq. The company hopes to close an acquisition of a healthcare company in 1Q 2023, while the transaction in the food sector is expected\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\/2023\/1\/358.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549432,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/18\/b-investments-hasnt-made-its-mind-up-on-totalenergies-egypt\/","url_meta":{"origin":578355,"position":5},"title":"B Investments hasn\u2019t made its mind up on TotalEnergies Egypt","author":"enterpriseam admin","date":"18 September 2022","format":false,"excerpt":"B Investments has not yet decided on whether to preempt Adnoc\u2019s bid to acquire TotalEnergies Egypt. The company\u2019s board said on Thursday in a regulatory filing (pdf) that it was \u201cnot in a position to respond\u201d by a 15 September deadline, citing \u201cunresolved legal issues related to the validity of\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\/9\/249.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\/578355","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=578355"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/578355\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/578346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/578356"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=578355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=578355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=578355"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=578355"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=578355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}