{"id":582510,"date":"2023-03-08T00:00:00","date_gmt":"2023-03-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/this-evening-pachin-wants-to-see-more-offers-before-looking-at-nphs-revised-acquisition-bid-us-defense-secretary-is-in-town\/"},"modified":"2023-03-08T00:00:00","modified_gmt":"2023-03-08T00:00:00","slug":"this-evening-pachin-wants-to-see-more-offers-before-looking-at-nphs-revised-acquisition-bid-us-defense-secretary-is-in-town","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/this-evening-pachin-wants-to-see-more-offers-before-looking-at-nphs-revised-acquisition-bid-us-defense-secretary-is-in-town\/","title":{"rendered":"THIS EVENING: Pachin wants to see more offers before looking at NPH\u2019s revised acquisition bid + US Defense Secretary is in town"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good afternoon, friends, and happy almost-THURSDAY \u2014 and International Women\u2019s Day.<\/span><span style=\"\"> We have a relatively brisk news<\/span><span style=\"font-weight:400;\"> day on our hands today here in Omm El Donia as the world celebrates International Women\u2019s Day.  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY TODAY<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Pachin is waiting on more offers before it moves forward with a sale: <\/span><span style=\"\">The<\/span><span> shareholders of Paint and Chemical Industries (Pachin) will not consider a revised acquisition offer from Dubai-based National Paints Holding (NPH) until two other bidders for the company submit their own revised offers, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/41VYgfc\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\"> reports citing unnamed sources it says have knowledge of the matter.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">THE BIG STORY ABROAD<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The international business press isn\u2019t leading with one big story this afternoon.<\/span><span style=\"\"> Among<\/span><span style=\"font-weight:400;\"> the headlines making the rounds:<\/span><\/p>\n<ul>\n<li><span>Saudi\u2019s Public Investment Fund is planning to start investor meetings this month for its planned USD 1 bn IPO of ADES International Holding. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-08\/saudi-pif-set-to-start-investor-meetings-for-1-billion-ades-ipo\" style=\"\">Bloomberg<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span>Elon Musk is facing backlash after criticizing the work ethic of a disabled Twitter employee who was disabled. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/08\/elon-musk-publicly-questions-laid-off-twitter-employee.html\" style=\"\">CNBC<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span>US Federal Reserve Chair Jerome Powell is returning to the Senate for a second day of testimony this afternoon. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/fed-chair-jerome-powell-returns-to-congress-for-second-day-of-hearings-e58457f7?mod=hp_lead_pos2\" style=\"\">Wall Street Journal<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HAPPENING NOW- US Defense Secretary Lloyd Austin is in town to meet with President<\/span><span style=\"font-weight:700\"> Abdel Fattah El Sisi<\/span><span>, after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/SecDef?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor\" style=\"\">landing a few hours ago<\/a><\/span><span>. Austin is broadly expected to bring up Washington\u2019s human rights concerns, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/163c0377-6488-4c6e-99b9-a81430e7e916#post-98381868-0f57-4e1c-909b-ba9158c2a183\" style=\"\">the Financial Times<\/a><\/span><span> reports, citing a senior US defense official. The Biden administration decided to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/10\/17\/this-evening-govt-reintroduces-unsubsidized-bread-price-caps-were-missing-out-on-another-usd-75-mn-in-military-aid-from-washington-84212\/\" style=\"\">withhold USD 205 mn<\/a><\/span><span style=\"font-weight:400;\"> in military aid to Egypt over human rights concerns in September 2022. Annual aid from the US to Egypt amounts to about USD 1.3 bn. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">** CATCH UP QUICK<\/span><span style=\"\"> on the top stories from today\u2019s <\/span><span style=\"font-weight:700\">EnterpriseAM<\/span><span style=\"font-weight:400;\">:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">AFC plans to invest USD 1 bn in Egypt\u2019s energy + industrial sectors:<\/span><span> The Africa Finance Corporation (AFC) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/08\/africa-finance-corporation-lines-up-usd-1-bn-investment-after-egypt-becomes-paid-up-member-99034\/\" style=\"\">has identified<\/a><\/span><span style=\"font-weight:400;\"> an \u201cimmediate project pipeline\u201d of investments worth more than USD 1 bn in Egyptian infrastructure projects. <\/span><\/li>\n<li><span style=\"font-weight:700\">The gov\u2019t is studying a stake sale in TE:<\/span><span> The Finance Ministry yesterday confirmed that the government <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/08\/telecom-egypt-stake-sale-possible-company-confirms-99032\/\" style=\"\">is working on a feasibility study<\/a><\/span><span style=\"font-weight:400;\"> regarding the sale of an undisclosed stake in Telecom Egypt<\/span><\/li>\n<li><span style=\"font-weight:700\">Elevate Healthcare to acquire 100% of Nile Scan:<\/span><span> Investment banking outfit Elevate Capital\u2019s Elevate Healthcare fund is reportedly <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/08\/elevate-healthcare-looking-to-fully-acquire-nile-scan-labs-99035\/\" style=\"\">looking to fully acquire<\/a><\/span><span style=\"font-weight:400;\"> clinical radiology and lab service provider Nile Scan & Labs for EGP 500 mn. <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/2\/ExportsFDIForum_1600.jpg?ssl=1\"\/><\/a><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We are delighted to share with you that the Enterprise Exports & FDI Forum <\/span><span style=\"\">will be taking <\/span><span style=\"\">place on<\/span><span style=\"font-weight:700\"> Monday, 15 May <\/span><span style=\"\">at the<\/span><span style=\"font-weight:700;\"> Four Seasons Hotel at Nile Plaza.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">DO YOU WANT TO ATTEND?<\/span><span style=\"\"> The first wave of invites is going out soon. If you\u2019re a C-suite exec, exporter, investor, official, banker, or someone who should be part of the conversation, please <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">TAP OR CLICK HERE<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">to request a spot at this exclusive event<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s the Enterprise Exports & FDI Forum?<\/span><span style=\"font-weight:400;\"> It is the latest in our series of must-attend, invitation-only gatherings for C-suite-level business leaders. The Enterprise Exports & FDI Forum will discuss the critical topics of exports and foreign direct investment (FDI) in Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">We will be taking an in-depth look into some of the most vital industry topics, including:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">How to effectively break into new export markets<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to leverage domestic trends in order to create export opportunities<\/span><\/li>\n<li><span style=\"font-weight:400;\">What foreign investors are looking for<\/span><\/li>\n<li><span style=\"font-weight:400;\">What the government's role should be <\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why now? <\/span><span style=\"\">Exports and foreign direct investment (FDI) have never been more important to our economy \u2014 or our businesses \u2014 than in the wake of the float of the EGP. We th<\/span><span>ink <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/issues\/2022\/10\/18\/am-a-five-step-recipe-to-boost-exports-fdi-and-make-sure-egypt-never-has-to-ask-the-imf-for-another-cent\/\" style=\"\">we have a once-in-a-lifetime chance to build an export-led economy<\/a><\/span><span style=\"font-weight:400;\"> that makes us a magnet for FDI, and all the benefits that will come with it for our nation. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Think of the Enterprise Exports & FDI Forum as a hands-on lab for<\/span><span style=\"font-weight:700;\"> how to turn the devaluation of the EGP into something that will turbocharge your company and our economy.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/exportsfdi.enterprise.press\/registration.html\" style=\"\">WANT TO ATTEND? Hit this link to let us know<\/a><\/span><span style=\"font-weight:700;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO SHARE YOUR STORY ON STAGE?<\/span><span> Drop a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:patrick@enterprisemea.com\" style=\"\">Patrick here and let\u2019s talk<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">WANT TO BECOME A COMMERCIAL PARTNER?<\/span><span> Ping a note to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"mailto:mtaalab@inktankir.com\" style=\"\">Moustafa, our head of commercial, here<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">? CIRCLE YOUR CALENDAR-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We have a date for CIFF<\/span><span style=\"\">: The Cairo International Film Festival (CIFF) will kick off at the <\/span><span>Cairo Opera House on Wednesday 15 November and run through to Friday 24 November, the festival\u2019s admins said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3kFvEX6\" style=\"\">a statement<\/a><\/span><span style=\"font-weight:400;\"> last week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Thanaweya Amma exam schedules are out: <\/span><span style=\"\">Thanaweya Amma exams are scheduled <\/span><span>to take place between 12 June and 15 July, the Education Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0MomhExv4yWhogyCoY77i4QPaocEt1zS2uR4BR6pjLQZ8rw8mG5AcPjKXZNfCbv5Rl\" style=\"\">said<\/a><\/span><span style=\"font-weight:400;\"> last month.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">\u2600\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">We\u2019re likely ending the week on a warmer note, as our favorite<\/span><span style=\"font-weight:400;\"> weather app tells us to expect a daytime high of 27\u00b0C before the mercury falls to 16\u00b0C in the evening. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and happy almost-THURSDAY \u2014 and International Women\u2019s Day. We have a relatively brisk news day on our hands today here in Omm El Donia as the world celebrates International Women\u2019s Day. THE BIG STORY TODAY Pachin is waiting on more offers before it moves forward with a sale: The shareholders of Paint [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":582511,"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":[7213],"tags":[633,9179,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-national-paints-holding","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"250a4a9f-fb6a-4ed2-b3d0-d49fcde13197","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/11\/agreement-1600px1.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[582508],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.3e5a18c9-cb60-49ba-8728-6b7f597f158b.mp3"},"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>THIS EVENING: Pachin wants to see more offers before looking at NPH\u2019s revised acquisition bid + US Defense Secretary is in town - 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\/2023\/03\/08\/this-evening-pachin-wants-to-see-more-offers-before-looking-at-nphs-revised-acquisition-bid-us-defense-secretary-is-in-town\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Pachin wants to see more offers before looking at NPH\u2019s revised acquisition bid + US Defense Secretary is in town\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and happy almost-THURSDAY \u2014 and International Women\u2019s Day. We have a relatively brisk news day on our hands today here in Omm El Donia as the world celebrates International Women\u2019s Day. 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