{"id":583758,"date":"2023-03-19T00:00:00","date_gmt":"2023-03-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/this-evening-el-nasr-housing-maadi-for-development-looking-at-capital-increases-to-raise-investments-ubs-offers-credit-suisse-usd-1-bn-all-share-acquisition\/"},"modified":"2023-03-19T00:00:00","modified_gmt":"2023-03-19T00:00:00","slug":"this-evening-el-nasr-housing-maadi-for-development-looking-at-capital-increases-to-raise-investments-ubs-offers-credit-suisse-usd-1-bn-all-share-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/this-evening-el-nasr-housing-maadi-for-development-looking-at-capital-increases-to-raise-investments-ubs-offers-credit-suisse-usd-1-bn-all-share-acquisition\/","title":{"rendered":"THIS EVENING: El Nasr Housing + Maadi for Development looking at capital increases to raise investments + UBS offers Credit Suisse USD 1 bn all-share acquisition"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Happy Sunday, friends, and welcome to another privatization-driven news day<\/span><span style=\"\"> here in<\/span><span style=\"font-weight:400;\"> Omm El Donia as we kick off this 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;\">THE BIG STORIES 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\">#1- Two state-owned real estate companies seek investments through<\/span><span style=\"font-weight:700\"> capital increase:<\/span><span style=\"\"> State<\/span><span style=\"\">-owned real estate co<\/span><span>mpanies, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/09\/rebooted-privatization-program-to-see-stakes-in-32-companies-sold-to-strategics-public-investors-96067\/\" style=\"\">El Nasr Housing and Development and Maadi for Development and Construction<\/a><\/span><span>,<\/span><span style=\"font-weight:400;\"> will drum up investments from strategic investors through capital increase rather than selling a stake belonging to existing shareholders,\u201d a source with knowledge of the matter, who asked to remain anonymous, told Enterprise today. Making public share offerings in the two companies will come at a later stage,\u201d the source added.<\/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\">#2- Pachin shareholders are facing a regulatory ultimatum: <\/span><span>Paint and Chemical Industries (Pachin) will have 10 working days to respond to Dubai-based National Paints Holding\u2019s (NPH) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/08\/national-paints-holding-just-raised-its-bid-for-pachin-99033\/\" style=\"\">mandatory tender offer (MTO)<\/a><\/span><span> to fully acquire the company, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/NPH-bid-for-Pachin.pdf\" style=\"\">a Financial Regulatory Authority (FRA) statement (pdf)<\/a><\/span><span style=\"font-weight:400;\">. The countdown to the FRA-enforced deadline begins from the day of publishing the announcement of the acquisition bid, the statement reads.<\/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=\"\"> <\/span><span style=\"font-weight:700\">UBS has offered to buy Credit Suisse for USD 1 bn in an all-share transaction<\/span><span style=\"\">, which could<\/span><span> be signed as early as this evening, the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/ec4be743-052a-4381-a923-c2fbd7ea9cfd\" style=\"\">Financial Times<\/a><\/span><span> reports, citing several sources with knowledge of the transaction. The \u201cfast-moving\u201d agreement is expected to be fast-tracked by Swiss authorities, which could \u201cchange the country\u2019s laws to bypass a shareholder vote on the transaction,\u201d the salmon-colored paper reports. The story is leading the conversation in the international business press this afternoon, with front-page coverage in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wsj.com\/articles\/ubs-offers-1-billion-to-take-over-credit-suisse-bfac51fa\" style=\"\">Wall Street Journal<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/business\/crunch-time-credit-suisse-talks-ubs-seeks-swiss-assurances-2023-03-19\/\" style=\"\">Reuters<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-19\/credit-suisse-said-to-push-back-against-ubs-s-1-billion-offer?srnd=premium-middle-east\" style=\"\">Bloomberg<\/a><\/span><span>, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.cnbc.com\/2023\/03\/19\/ubs-offers-to-buy-credit-suisse-for-up-to-1-billion-the-financial-times-reports.html\" style=\"\">CNBC<\/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: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-<\/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\">Palestine, Israel participate in Egypt-brokered security meeting: <\/span><span style=\"\">Officials from the two sides met in<\/span><span> Sharm El Sheikh today as part of a five-way<\/span><span> meeting with Egyptian, Jordanian, and US officials, a cabinet <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0aLuKqXnpFRuYjZ4CyywgBMLrN37AAc9FGrdyMKwBXjZZSje3WTzw14ZBVkuYfjENl\" style=\"\">statement<\/a><\/span><span> said. The discussions follow on from a meeting in Jordan last month that attempted to encourage a dialogue between the two sides but which did little to calm tensions. <\/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\">First up from the SFE\u2019s pre-IPO fund:<\/span><span> Egyptian Linear Alkyl Benzene (Elab) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/19\/elab-first-up-for-sale-via-sfes-pre-ipo-fund-soliman-100536\/\" style=\"\">will be the first company<\/a><\/span><span style=\"font-weight:400;\"> to go to market via the Sovereign Fund of Egypt\u2019s (SFE) pre-IPO fund.<\/span><\/li>\n<li><span style=\"font-weight:700\">No limits on Safi, Wataniya stake sales -SFE\u2019s Soliman:<\/span><span> The Sovereign Fund of Egypt (SFE) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/19\/sfe-open-to-selling-100-of-safi-wataniya-to-strategic-investors-soliman-100537\/\" style=\"\">could sell up to 100%<\/a><\/span><span style=\"font-weight:400;\"> of military-owned firms Safi and Wataniya to strategic investors depending on market appetite.<\/span><\/li>\n<li><span style=\"font-weight:700\">Abu Dhabi Ports just established itself as a major player in Egypt\u2019s port infrastructure:<\/span><span> Abu Dhabi Ports (ADP) will <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/03\/19\/adp-lands-30-year-contract-to-develop-and-operate-safaga-port-terminal-100538\/\" style=\"\">develop and operate<\/a><\/span><span style=\"font-weight:400;\"> a container terminal at Safaga Port under a USD 200 mn, 30-year concession agreement signed with the government yesterday.<\/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<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg?ssl=1\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">*** It\u2019s Inside Industry day \u2014<\/span><span style=\"font-weight:700\">your weekly briefing of all things industrial in Egypt.<\/span><span style=\"font-weight:400;\"> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/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\">In today\u2019s issue:<\/span><span style=\"\"> As Egypt works to grow its exports and slash its import bills, industry players<\/span><span style=\"font-weight:400;\"> and other stakeholders have called for the government to enact certain reforms that they believe are necessary to prop up exporters and streamline their work.<\/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;\"><\/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:700\">?\ufe0f <\/span><span style=\"font-weight:700\">TOMORROW\u2019S WEATHER- <\/span><span style=\"\">The sun is going into hiding tomorrow, bringing down the<\/span><span style=\"font-weight:400;\"> mercury a couple of degrees to 20\u00b0C during the day and 12\u00b0C in the evening, according to our favorite weather app. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Happy Sunday, friends, and welcome to another privatization-driven news day here in Omm El Donia as we kick off this week. THE BIG STORIES TODAY #1- Two state-owned real estate companies seek investments through capital increase: State-owned real estate companies, El Nasr Housing and Development and Maadi for Development and Construction, will drum up investments [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":583759,"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":[9115,633,587,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583758","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-credit-suisse","tag-enterprisepm","tag-state-privatization-program","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"bc6daf09-1ecb-467a-abff-08aa843bc3d3","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/9\/1600-reading-newspaper.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[583756],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.165fb8eb-059e-4d73-a05d-d0d5951d106e.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: El Nasr Housing + Maadi for Development looking at capital increases to raise investments + UBS offers Credit Suisse USD 1 bn all-share acquisition - 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\/19\/this-evening-el-nasr-housing-maadi-for-development-looking-at-capital-increases-to-raise-investments-ubs-offers-credit-suisse-usd-1-bn-all-share-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: El Nasr Housing + Maadi for Development looking at capital increases to raise investments + UBS offers Credit Suisse USD 1 bn all-share acquisition\" \/>\n<meta property=\"og:description\" content=\"Happy Sunday, friends, and welcome to another privatization-driven news day here in Omm El Donia as we kick off this week. 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THE BIG STORIES TODAY #1- Two state-owned real estate companies seek investments through capital increase: State-owned real estate companies, El Nasr Housing and Development and Maadi for Development and Construction, will drum up investments [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/19\/this-evening-el-nasr-housing-maadi-for-development-looking-at-capital-increases-to-raise-investments-ubs-offers-credit-suisse-usd-1-bn-all-share-acquisition\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-03-19T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/1600-reading-newspaper.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 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2023","format":false,"excerpt":"Both firms are on the list of 32 companies earmarked for privatization","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/New-Cairo-Rehab-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599529,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/02\/heliopolis-housing-a-pilot-of-the-states-privatization-program-could-sell-al-nasr-stake\/","url_meta":{"origin":583758,"position":1},"title":"Heliopolis Housing, a pilot of the state\u2019s privatization program, could sell Al Nasr stake","author":"enterpriseam admin","date":"2 January 2019","format":false,"excerpt":"M&A WATCH- Heliopolis Housing could sell Al Nasr stake: State-owned Heliopolis Housing and Development (HDD), one of the first companies set to pilot the state\u2019s new privatization drive, could sell a 20% stake in Al Nasr Real Estate Development worth some EGP 48 mn to Zahraa Maadi Investment, according to\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":590810,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/26\/dubai-takeover-of-pachin-is-complete-plus-a-real-estate-merger-in-the-works\/","url_meta":{"origin":583758,"position":2},"title":"Dubai takeover of Pachin is complete. PLUS: A real estate merger in the works?","author":"enterpriseam admin","date":"26 July 2023","format":false,"excerpt":"The Dubai-based company purchased the remaining 20% of Pachin owned by state entities","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1040.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583792,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/this-evening-infinity-power-closes-its-acquisition-of-100-of-lekela-power\/","url_meta":{"origin":583758,"position":3},"title":"THIS EVENING: Infinity Power closes its acquisition of 100% of Lekela Power +","author":"enterpriseam admin","date":"20 March 2023","format":false,"excerpt":"Good afternoon, ladies and gentlemen. We\u2019re officially in the final countdown to Ramadan, with reminders everywhere that we will soon part ways with our morning cup of coffee. Case in point\u2026PSA- The CBE just announced Ramadan working hours for banks: Bank employees will work from 9am-2pm, while customers will have\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/agreement-2-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583607,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/16\/this-evening-state-privatization-program-will-likely-lead-with-oil-companies-credit-suisse-gets-a-lifeline\/","url_meta":{"origin":583758,"position":4},"title":"THIS EVENING: State privatization program will likely lead with oil companies + Credit Suisse gets a lifeline","author":"enterpriseam admin","date":"16 March 2023","format":false,"excerpt":"Happy THURSDAY, friends. We\u2019re finally winding down a hectic week as we slide into our last weekend before Ramadan rolls around.THE BIG STORY TODAY Oil and gas companies are likely going to be first in the chute for state privatization reboot: Six of the first eight state-owned companies that are\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/old-stock-market1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569536,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/27\/el-nasr-mining-company-to-offer-22-of-its-shares-on-the-egx\/","url_meta":{"origin":583758,"position":5},"title":"El Nasr Mining Company to offer 22% of its shares on the EGX","author":"enterpriseam admin","date":"27 February 2020","format":false,"excerpt":"PRIVATIZATION WATCH- El Nasr Mining Company to offer 22% of its shares in IPO: The Holding Company for Metallurgical Industries\u2019 general assembly has approved offering 21.97% of its subsidiary El Nasr Mining Company in an IPO on the EGX as part of the state privatization program, according to Youm7. 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