{"id":593325,"date":"2019-11-25T04:23:12","date_gmt":"2019-11-25T04:23:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants\/"},"modified":"2019-11-25T04:23:12","modified_gmt":"2019-11-25T04:23:12","slug":"actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/25\/actis-confirms-its-bidding-for-a-stake-in-egypts-combined-cycle-plants\/","title":{"rendered":"Actis confirms it\u2019s bidding for a stake in Egypt\u2019s combined cycle plants"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Actis has confirmed it is in the running to acquire a stake in a combined-cycle power plant<\/strong><strong>:<\/strong> Private equity giant Actis has formally submitted a letter of intention to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plants, Sherif El Kholy, partner and head of Middle East and Africa at Actis, <a href=\"https:\/\/hapijournal.com\/2019\/11\/24\/%d8%af-%d8%b4%d8%b1%d9%8a%d9%81-%d8%a7%d9%84%d8%ae%d9%88%d9%84%d9%8a-%d8%a3%d9%83%d8%aa%d9%8a%d8%b3-%d8%aa%d8%aa%d9%82%d8%af%d9%85-%d8%a8%d8%ae%d8%b7%d8%a7%d8%a8-%d9%86%d9%88%d8%a7%d9%8a%d8%a7\/\">tells Hapi Journal<\/a>. Sources had told Bloomberg <a href=\"https:\/\/enterprise.press\/stories\/2019\/11\/14\/actis-engie-datang-in-the-running-to-acquire-stake-in-egypts-combined-cycle-power-plants-6302\/\">earlier this month<\/a> that Actis is among those bidding for the stake, but the company had declined to comment at the time. Actis is competing alongside France\u2019s Engie, China Datang Overseas, Blackstone Group\u2019s Zarou, and Edra Holdings. Electricity Ministry sources had said previously that Zarou had submitted the best financial offer, making it the top contender.<\/p>\n<p><strong>Actis is looking to get a piece of all three power plants<\/strong> once Egyptian sovereign wealth fund Tharaa begins to offer up stakes in the other two. According to El Kholy, Actis wants to hold at least 51% of the three plants in Burullus, the new administrative capital, and Beni Suef.<\/p>\n<p><strong>Background:<\/strong> Tharaa CEO Soliman said earlier this month that an agreement to sell a stake in only a single plant is expected to be finalized in less than a year. Stake sales in the other two plants would then follow. He also said that the fund is planning to acquire 30% of the plants\u2019 equity, and offer the remaining stake to an international investor as part of its efforts to encourage foreign participation in the economy. Post-sale, the shareholders could establish a joint venture that would then sign a power purchase agreement to sell the plants\u2019 output to the government. There are two other scenarios that the fund is looking at, including one in which it takes a 60-70% stake in the plants, leaving a minority stake for the private sector. The three 14.4 GW plants were co-built by Siemens, Orascom Construction, and Elsewedy Electric, and were inaugurated in July 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Actis has confirmed it is in the running to acquire a stake in a combined-cycle power plant: Private equity giant Actis has formally submitted a letter of intention to acquire a stake in the Siemens \/ Orascom Construction \/ Elsewedy Electric combined-cycle power plants, Sherif El Kholy, partner and head of Middle East and Africa [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":593326,"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":[922,152,93,6330,72,363,758,3080,484,370,2380,3750],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-actis","tag-elsewedy-electric","tag-energy","tag-engie","tag-enterpriseam","tag-orascom-construction","tag-private-equity","tag-sherif-el-kholy","tag-siemens","tag-sovereign-fund-of-egypt","tag-speed-round","tag-zarou","wpautop","entry"],"acf":{"mongo_id":"d37c6edc-e9f2-46bc-b178-eb68a9c81e90","is_powered_by":true,"section_story_id":"68e19ed2-e91c-4a29-9325-fb21b3919b26","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/659.jpg","photo_position":"above","related_issue":[593318],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Sources in the\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\/2017\/3\/970.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593417,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/egypts-tharaa-to-tap-financial-advisor-for-combined-cycle-plant-stake-sale-next-week\/","url_meta":{"origin":593325,"position":1},"title":"Egypt\u2019s Tharaa to tap financial advisor for combined cycle plant stake sale next week","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"Tharaa to tap financial advisor for combined cycle plant stake sale next week: Egyptian sovereign wealth fund Tharaa is set to select a financial advisor next week to assess the offers presented from international investors to acquire a 70% stake in the first of three Siemens \/ Elsewedy Electric \/\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\/2020\/9\/74.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591472,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/hsbc-and-citibank-compete-for-combined-cycle-stake-sale-role\/","url_meta":{"origin":593325,"position":2},"title":"HSBC and Citibank compete for combined cycle stake sale role","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HSBC and Citibank are competing to act as financial advisor on combined-cycle plant stake sale: Egypt\u2019s sovereign wealth fund is mulling offers from HSBC and Citibank to advise on the sale of a 70% stake in the first of three Siemens \/ Elsewedy Electric \/ Orascom Construction combined-cycle\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":573296,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/pe-giant-actis-to-make-new-renewables-acquisition-this-year\/","url_meta":{"origin":593325,"position":3},"title":"PE giant Actis to make new renewables acquisition this year","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"PE giant Actis to make new renewables acquisition this year, likes fintech, healthcare: Leading emerging-market private equity firm Actis expects to close a new investment in Egypt\u2019s renewables sector by the end of the year, Sherif El Kholy, head of the firm\u2019s Middle East & North Africa business, told Hapi\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\/2020\/7\/225.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575161,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/05\/actis-eyes-egyptian-renewables-infrastructure-projects-for-new-actis-5-fund\/","url_meta":{"origin":593325,"position":4},"title":"Actis eyes Egyptian renewables, infrastructure projects for new Actis 5 fund","author":"enterpriseam admin","date":"5 October 2020","format":false,"excerpt":"PRIVATE EQUITY WATCH- Actis eyes Egyptian renewables, infrastructure projects for new Actis 5 fund: Emerging markets private equity giant Actis is looking to raise USD 4-4.5 bn to set up a new international fund, Actis 5, to invest in renewable energy and infrastructure projects with a particular focus on the\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\/2020\/10\/44.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645013,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/actis-looking-to-acquire-stakes-in-companies-in-food-health-education\/","url_meta":{"origin":593325,"position":5},"title":"Actis looking to acquire stakes in companies in food, health, education","author":"enterpriseam admin","date":"10 July 2017","format":false,"excerpt":"Private equity firm Actis is planning to acquire stakes in companies in banking, food industries, health and education, Partner Sherif El Kholy tells Al Shorouk. 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