{"id":593137,"date":"2019-11-19T04:12:29","date_gmt":"2019-11-19T04:12:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/19\/al-madar-back-in-the-running-to-acquire-emisal-salts-stake\/"},"modified":"2019-11-19T04:12:29","modified_gmt":"2019-11-19T04:12:29","slug":"al-madar-back-in-the-running-to-acquire-emisal-salts-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/19\/al-madar-back-in-the-running-to-acquire-emisal-salts-stake\/","title":{"rendered":"Al Madar back in the running to acquire Emisal Salts stake?"},"content":{"rendered":"

<\/a> M&A WATCH- Is Al Madar back in the running to acquire Emisal Salts stake?<\/strong> A consortium of Kuwait\u2019s Al Madar Finance & Investment Company and the Saudi Egyptian Industrial Investment Company (SEII) is considering whether to again bid for a stake in state-owned Emisal Salts after Egypt Kuwait Holding (EKH) withdrew its offer on Monday, according to Al Mal<\/a>. The companies plan to approach Emisal\u2019s shareholders with an offer above the current EGP 1 bn valuation \u2014 a more than 40% premium to the EGP 700 mn bid they lodged in June.<\/p>\n

Has EKH has dropped its acquisition bid for good?<\/strong> EKH said yesterday that it had withdrawn its bid after shareholders failed to pledge a majority of shares<\/a> in its tender offer. It\u2019s unclear whether EKH is planning to come back with another offer. However, the National Bank of Egypt (NBE) \u2014 which holds a 49.8% stake \u2014 is reportedly now the only shareholder willing to offload. If true, that means no bidder is likely to get a majority stake. Several other minority shareholders originally agreed to sell their stakes, but later changed their minds when suggestions of a bidding war drove up their price expectations, according to reports in the domestic press. Al Madar is telegraphing in the press that it is willing to purchase NBE\u2019s non-controlling stake.<\/p>\n

Background:<\/strong> The Al Madar consortium was previously reproted to have been bidding against EKH for Emisal, but NBE (which is leading the sale process on behalf of other state-owned shareholders) turned down its offer and pursued talks with EKH. EKH then reportedly reached an agreement in July<\/a> with NBE and the Chemical Industries Holding Company (CIHC), which owns 13.1% of Emisal, to acquire a 52.8% stake in the company. EKH submitted the tender offer back in February<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Is Al Madar back in the running to acquire Emisal Salts stake? A consortium of Kuwait\u2019s Al Madar Finance & Investment Company and the Saudi Egyptian Industrial Investment Company (SEII) is considering whether to again bid for a stake in state-owned Emisal Salts after Egypt Kuwait Holding (EKH) withdrew its offer on Monday, […]<\/p>\n","protected":false},"author":1,"featured_media":593138,"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":[8572],"tags":[1668,11061,72,7128,3964,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-egypt-kuwait-holding","tag-emisal-salts","tag-enterpriseam","tag-ma-watch","tag-saudi-egyptian-industrial-investment","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"5ee4441c-03a4-4509-a293-97e37ea3e584","is_powered_by":true,"section_story_id":"d355aaa2-2f16-4b2d-996c-13beda8f6a7d","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/11\/2827.jpg","photo_position":"above","related_issue":[593130],"teaser":"","voice_url":""},"yoast_head":"\nAl Madar back in the running to acquire Emisal Salts stake? - 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\/2019\/11\/19\/al-madar-back-in-the-running-to-acquire-emisal-salts-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Al Madar back in the running to acquire Emisal Salts stake?\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Is Al Madar back in the running to acquire Emisal Salts stake? 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NBE, the largest shareholder in Emisal, will sell\u2026","rel":"","context":"In "Speed Round"","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":593100,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/18\/ekhs-emisal-salts-acquisition-bid-stalls-on-lackluster-tender-offer\/","url_meta":{"origin":593137,"position":1},"title":"EKH\u2019s Emisal Salts acquisition bid stalls on lackluster tender offer","author":"enterpriseam admin","date":"18 November 2019","format":false,"excerpt":"M&A WATCH- EKH\u2019s bid to acquire a majority stake in Emisal Salts looks stalled: Egypt Kuwait Holding\u2019s (EKH) acquisition of a majority stake in state-owned Emisal Salts appears stalled after shareholders pledged stock that in aggregate fell short of EKH\u2019s target, EKH said in an EGX disclosure (pdf). No further\u2026","rel":"","context":"In "Speed Round"","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":595317,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/23\/fair-share-value-for-emisal-acquisition-set-before-end-of-month\/","url_meta":{"origin":593137,"position":2},"title":"Fair share value for Emisal acquisition set before end of month","author":"enterpriseam admin","date":"23 September 2019","format":false,"excerpt":"M&A WATCH- Fair share value for Emisal acquisition decided soon: A fair share value study for Emisal Salts will be ready before the end of September, Chemical Industries Holding Company (CIHC) Chairman Emad El Din Moustafa told the local press. CIHC aims to sell 3 percentage points of its 13.1%\u2026","rel":"","context":"In "Speed Round"","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":593366,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/26\/al-madar-seii-consortium-to-decide-on-emisal-bid-this-week\/","url_meta":{"origin":593137,"position":3},"title":"Al Madar, SEII consortium to decide on Emisal bid this week","author":"enterpriseam admin","date":"26 November 2019","format":false,"excerpt":"M&A WATCH- Al Madar, SEII consortium to decide on Emisal bid this week: A consortium of Kuwait\u2019s Al Madar Finance & Investment Company and the Saudi Egyptian Industrial Investment Company (SEII) will decide whether to bid once more for a stake in state-owned Emisal Salts by the end of the\u2026","rel":"","context":"In "Speed Round"","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":598829,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/10\/gcc-egyptian-consortium-looking-to-acquire-emisal-salts-for-at-least-egp-700-mn\/","url_meta":{"origin":593137,"position":4},"title":"GCC-Egyptian consortium looking to acquire Emisal Salts for at least EGP 700 mn","author":"enterpriseam admin","date":"10 June 2019","format":false,"excerpt":"M&A WATCH- A bidding war for Emisal Salts? A consortium made up of Kuwait\u2019s Al Madar Finance and Investment and the Saudi-Egyptian Industrial Investment (SEII) is looking to acquire Emisal Salts, potentially triggering a bidding war with Egypt Kuwait Holding. The consortium has offered EGP 700 mn as a starting\u2026","rel":"","context":"In "Speed Round"","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":598958,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/13\/nbe-extends-bidding-process-period-for-emisal-salts-to-end-of-month\/","url_meta":{"origin":593137,"position":5},"title":"NBE extends bidding process period for Emisal Salts to end of month","author":"enterpriseam admin","date":"13 June 2019","format":false,"excerpt":"M&A WATCH- Bidders have until the end of this month to submit tender offers for Emisal: The National Bank of Egypt is giving would-be bidders until the end of the month to make offers for Emisal Salts, company sources told the local press. Earlier this week, a consortium made up\u2026","rel":"","context":"In "Speed Round"","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\/593137","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=593137"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593137\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593138"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593137"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593137"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}