{"id":581122,"date":"2023-02-20T00:00:00","date_gmt":"2023-02-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/20\/this-evening-italys-intesa-sanpaolo-wants-to-become-the-sole-owner-of-alexbank-biden-makes-surprise-visit-to-ukraine\/"},"modified":"2023-02-20T00:00:00","modified_gmt":"2023-02-20T00:00:00","slug":"this-evening-italys-intesa-sanpaolo-wants-to-become-the-sole-owner-of-alexbank-biden-makes-surprise-visit-to-ukraine","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/20\/this-evening-italys-intesa-sanpaolo-wants-to-become-the-sole-owner-of-alexbank-biden-makes-surprise-visit-to-ukraine\/","title":{"rendered":"THIS EVENING: Italy\u2019s Intesa Sanpaolo wants to become the sole owner of Alexbank + Biden makes surprise visit to Ukraine"},"content":{"rendered":"

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Happy Monday, wonderful people.<\/span> It\u2019s relatively calm on the news front here at home so far, but we have a creeping suspicion that won't be the case over the next few days.<\/span><\/p>\n

THE BIG STORY TODAY-<\/span><\/p>\n

<\/span>Italy\u2019s Intesa Sanpaolo could soon own all of Alexbank:<\/span> <\/span>Italian bank Intesa <\/span>Sanpaolo, which owns 80% of the Bank of Alexandria (Alexbank), is in advanced talks to acquire the remaining <\/span>20% stake<\/span> in the bank owned by the government,<\/span> a government source told Enterprise this morning.<\/span> We\u2019re expecting an official announcement about the acquisition soon. <\/span><\/p>\n

REMEMBER- <\/span>Alexbank wasn\u2019t on the<\/span>list of 32 companies<\/a><\/span> the government is planning to sell stakes in over the next year, though the EGX said earlier this year that the bank was in the pipeline for <\/span>a potential IPO on the EGX<\/a><\/span>. Intesa bought 80% of Alexbank in a 2006 transaction as the institution was privatized. <\/span><\/p>\n

THE BIG STORY ABROAD-<\/span><\/p>\n

<\/span>The one story dominating the foreign press this afternoon: <\/span>US President Joe Biden <\/span>landed in Kyiv earlier today in a surprise visit to meet with his counterpart Volodymyr Zelenskyy just days before the one-year anniversary of the Russian invasion of Ukraine. Biden arrived bearing gifts, announcing an additional USD 500 mn assistance to war-torn Ukraine and reiterating the United States\u2019 support for the country. (<\/span>AP<\/a><\/span> | <\/span>Reuters<\/a><\/span> <\/span>| <\/span>Wall Street Journal<\/a><\/span> <\/span>| <\/span>Washington Post<\/a><\/span> | <\/span>FT<\/a><\/span> <\/span>| <\/span>Bloomberg<\/a><\/span>)<\/span><\/p>\n

** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM: <\/span><\/p>\n