{"id":588914,"date":"2023-06-19T00:00:00","date_gmt":"2023-06-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/ezz-dekheila-steel-handed-egp-20-bn-valuation-ahead-of-potential-stake-sale\/"},"modified":"2023-06-19T00:00:00","modified_gmt":"2023-06-19T00:00:00","slug":"ezz-dekheila-steel-handed-egp-20-bn-valuation-ahead-of-potential-stake-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/19\/ezz-dekheila-steel-handed-egp-20-bn-valuation-ahead-of-potential-stake-sale\/","title":{"rendered":"Ezz Dekheila Steel handed EGP 20 bn+ valuation ahead of potential stake sale"},"content":{"rendered":"<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\">Ezz Dekheila Steel valued at more than EGP 1k per share ahead of stake sale: <\/span><span style=\"\">The <\/span><span style=\"\">Sovereign Fund of Egypt (SFE) has received a preliminary valuation of Ezz Steel subsidiary Ezz Dekheila Steel that puts the company\u2019s worth at some EGP 1,060.00 per <\/span><span style=\"\">share<\/span><span style=\"\">, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/51274\/%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%AF%D9%8A-%D9%8A%D8%AA%D8%B3%D9%84%D9%85-%D8%AA%D9%82%D9%8A%D9%8A%D9%85-%D8%A7%D9%84%D8%B9%D8%B2-%D8%A7%D9%84%D8%AF%D8%AE%D9%8A%D9%84%D8%A9-%D8%B9%D9%86%D8%AF-1060-%D8%AC%D9%86%D9%8A%D9%87%D8%A7%D9%8B-%D9%84%D9%84%D8%B3%D9%87%D9%85\/\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\"> reports, citing sources familiar with the matter. The valuation was conducted ahead of a potential sale that could see the government offload a 14% stake in the EGX-listed Ezz Dekheila to its parent firm.<\/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\">Remember: <\/span><span style=\"\">News of a potential <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/233aedd0-f51c-47a3-9b29-b2e2c3d3cd7c\" style=\"\">stake sale<\/a><\/span><span style=\"font-weight:400;\"> broke last month when several local outlets reported that Ezz Steel was in negotiations with the government to purchase the shares in Ezz Dekheila held by the National Investment Bank (NIB) and the National Bank of Egypt (NBE). A government source confirmed to us the existence of the talks.<\/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\">A closer look at the numbers:<\/span><span style=\"\"> The proposed share price estimates the company\u2019s total worth at more than EGP 20.7 bn a<\/span><span style=\"\">nd represents a premium of almost 30% o<\/span><span style=\"\">n<\/span><span style=\"\"> the company<\/span><span style=\"\">\u2019s closing share price<\/span><span style=\"font-weight:400;\"> on Thursday.<\/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 they said:<\/span><span style=\"\"> Steel giant Ezz Steel has neither made nor received a formal acquisition offer and did not initiate a valuation, a <\/span><span style=\"\">source <\/span><span style=\"\">at the company told Enterprise yesterday, reiterating what the company <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bae63416-8277-496e-8c07-3e0e56df3cc3\" style=\"\">said<\/a><\/span><span style=\"\">in an EGX disclosure last month. We were unable to reach a representative of the SFE, whose role in the transaction remain<\/span><span style=\"\">s unclear.<\/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\">Shareholder structure: <\/span><span style=\"font-weight:400;\">NIB holds an 8.1% stake in Ezz Dekheila Steel while NBE owns 5.7% \u2014 together forming the 14% stake that the government allegedly plans to divest. Other state institutions hold about 17.2% of the company. Ezz Steel holds a majority stake of 64% and the remainder is in freefloat. <\/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\">Market reax:<\/span><span> Ezz Dekheila Steel\u2019s share price jumped 12.7% to close at EGP 925.<\/span><span>06<\/span><span> apiece <\/span><span style=\"\">during yesterday\u2019s trading session. Ezz Steel shares closed 6.9% higher at EGP 38<\/span><span style=\"\">.50.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steel giant Ezz Steel could acquire a 14% stake held by state banks in its EGX-listed subsidiary<\/p>\n","protected":false},"author":1,"featured_media":588915,"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":[72,589,7196,7128,131,248,585,81,370,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-ezz-steel","tag-industry","tag-ma-watch","tag-manufacturing","tag-national-bank-of-egypt","tag-national-investment-bank","tag-privatization-watch","tag-sovereign-fund-of-egypt","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"2b1d120f-389e-43d9-8c90-a1759e0b629f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/901.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ezz Dekheila Steel handed EGP 20 bn+ valuation ahead of potential stake sale","related_issue":[588902],"teaser":"Steel giant Ezz Steel could acquire a 14% stake held by state banks in its EGX-listed subsidiary","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.cb808aca-49b0-43b9-9236-39c842b28112.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>Ezz Dekheila Steel handed EGP 20 bn+ valuation ahead of potential stake sale - 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\/06\/19\/ezz-dekheila-steel-handed-egp-20-bn-valuation-ahead-of-potential-stake-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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Dekheila to its parent company","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/973.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":586201,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/08\/ezz-steel-looks-to-acquire-govt-owned-shares-of-ezz-dekheila-steel\/","url_meta":{"origin":588914,"position":1},"title":"Ezz Steel looks to acquire gov\u2019t-owned shares of Ezz Dekheila Steel","author":"enterpriseam admin","date":"8 May 2023","format":false,"excerpt":"The company would acquire 14% of Ezz Dekheila from the National Investment Bank and the National Bank of Egypt","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A 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&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\/5\/366.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592435,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/06\/al-ezz-dekheila-steel-greenlights-share-buyback-egx-delisting\/","url_meta":{"origin":588914,"position":3},"title":"Al Ezz Dekheila Steel greenlights share buyback, EGX delisting","author":"enterpriseam admin","date":"6 August 2023","format":false,"excerpt":"The government is offloading its entire stake in Al Ezz Dekheila","rel":"","context":"In &quot;Also on our Radar&quot;","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\/2023\/8\/218.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568610,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/efg-hermes-advises-on-al-ezz-dekheila-steel-restructure\/","url_meta":{"origin":588914,"position":4},"title":"EFG Hermes advises on Al Ezz Dekheila Steel restructure","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"EFG Hermes has successfully advised Al Ezz Dekheila Steel on its restructuring plan, the investment bank said in an emailed statement. The restructure involved the EGP 2 bn acquisition of Ezz Rolling Mills and the USD 424 mn acquisition of Ezz Flat Steel. Al Ezz Dekheila made two mandatory tender\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593470,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/ezz-steel-board-approves-selling-its-shares-in-ezz-rolling-mills-to-ezz-dekheila\/","url_meta":{"origin":588914,"position":5},"title":"Ezz Steel board approves selling its shares in Ezz Rolling Mills to Ezz Dekheila","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"M&A WATCH- Ezz Steel board approves selling its shares in Ezz Rolling Mills to Ezz Dekheila: Ezz Steel\u2019s board of directors has signed off on selling north of 88 mn of its shares in Ezz Rolling Mills (ERM) through a share swap with Ezz Dekheila Steel, the parent company said\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588914","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=588914"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588914\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/588902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/588915"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=588914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=588914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=588914"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=588914"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=588914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}