{"id":603822,"date":"2023-08-21T00:00:00","date_gmt":"2023-08-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/21\/this-evening-united-tobacco-eyeing-a-minority-stake-in-eastern-tobacco\/"},"modified":"2023-08-21T00:00:00","modified_gmt":"2023-08-21T00:00:00","slug":"this-evening-united-tobacco-eyeing-a-minority-stake-in-eastern-tobacco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/21\/this-evening-united-tobacco-eyeing-a-minority-stake-in-eastern-tobacco\/","title":{"rendered":"THIS EVENING: United Tobacco eyeing a minority stake in Eastern Tobacco?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good afternoon, wonderful people<\/strong>, and welcome to the second day of what seems to be a busy week with more privatization news as we push towards the end of August. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY TODAY <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Phillip Morris subsidiary United Tobacco is reportedly in talks with the <\/strong><strong> government to acquire a minority stake in state-owned Eastern Tobacco<\/strong>, <a target=\"_blank\" href=\"https:\/\/bit.ly\/47GBSth\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing two unnamed sources it says have knowledge of the matter. Details on the size and amount of the stake offered to United Tobacco have yet to be confirmed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORIES ABROAD <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> China\u2019s interest rate cut is leading the conversation in the international business press. <\/strong>China's central bank decreased the interest rates by 0.10pp to 3.45% only on the one-year loan prime rate, keeping the five-year rate unchanged at 4.2%. This step comes after several S&P 500 banks lowered their China growth forecasts on slower economic recovery due to the government\u2019s lack of economic stimulation via supportive policies to drive growth. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/us\/global-markets-view-usa-2023-08-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/china\/rates-in-china-cut-again-but-by-less-than-expected-c10fdc28?mod=hp_lead_pos1\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/21\/china-loan-prime-rate-august-2023.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/6d2927c0-bf6f-4b56-87ba-9d8a26fff921\" style=\"\" rel=\"noopener\">Financial Times<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Also getting wide play is Hilary, a tropical storm <\/strong> that has hit Southern California and is making its move up to Nevada after claiming one life in Mexico. The governor of California has declared a state of emergency until 3am local time for the sunshine state as mountainous and desert areas have reportedly expected to reach 5 to 10 inches of rainfall \u2014 an unprecedented amount for an area that mostly experiences drought. No casualties or deaths were reported. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/tropical-storm-hilary-releases-fury-southern-california-2023-08-21\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/world-us-canada-66566483\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/19\/hurricane-hilary-threatens-catastrophic-and-life-threatening-flooding-in-mexico-and-california.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/us-news\/climate-environment\/tropical-storm-hilary-makes-landfall-in-mexico-threatening-southern-california-30d14eae?mod=hp_lead_pos8&mod=hp_lead_pos7\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><strong> ** CATCH UP QUICK <\/strong> on the top stories from today\u2019s <strong> EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong> Mashreq Bank Egypt, Credit Agricole Egypt, and the National Bank of Kuwait\u2019s Egypt unit <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7a248ffa-5a1b-4ef5-bfac-5250146e9cc2\" style=\"\" rel=\"noopener\">have begun due diligence on United Bank<\/a><\/strong> with a view to potentially acquiring a stake in the CBE-owned lender.<\/li>\n<li><strong> We\u2019re waiting on MPs for the UAE wheat financing pact to come into play: <\/strong>Our USD 500 mn financing agreement to purchase wheat from Emirati agribusiness Al Dahra <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d53d4051-669d-4848-bc24-89cf1875f4e3\" style=\"\" rel=\"noopener\">will likely kick off in January<\/a>.<\/li>\n<li><strong> Rameda Pharma is <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/20077cb0-60e1-4b05-8e0f-7f2226663791\" style=\"\" rel=\"noopener\">kicking the tires on two potential acquisitions<\/a><\/strong> in the medical sector.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><a href=\"https:\/\/finance.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/climate.enterprise.press\/wp-content\/uploads\/2023\/08\/Finance-Forum-1920px.jpg\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> CHECK OUT OUR AGENDA- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Enterprise Finance Forum is taking place on 18-19 September at <\/strong><strong> the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is our first two-day event<\/strong>,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our full agenda will be out at month\u2019s end. Among the topics we\u2019ll be discussing: <\/strong><\/p>\n<ul>\n<li><strong> Looking into the crystal ball: <\/strong> Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.<\/li>\n<\/ul>\n<ul>\n<li><strong> Surviving nuclear winter: <\/strong> We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it\u2019s awfully difficult to price your local asset in USD terms.<\/li>\n<li><strong> The robots are coming: <\/strong> We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.<\/li>\n<li><strong> What do you do when nobody wants to be a banker <\/strong> \u2014 and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they\u2019re building talent for tomorrow.<\/li>\n<li><strong> NBFIs are a bubble. Prove me wrong: <\/strong> We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We\u2019ll dive into whether consumer finance is starting to mature as a segment \u2014 and ask which sector is next.<\/li>\n<li><strong> Handicapping the winners and losers in fintech in 2024: <\/strong> We dive deep into which categories are getting traction, where the untapped opportunities are, what business they would start today if they could, and what we can expect of the sector in the year ahead.<\/li>\n<li><strong> What\u2019s a bank, anyway? <\/strong>Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** NEW: MORE NETWORKING TIME- <\/strong> Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do you want to become a commercial partner? <\/strong> Ping a note to <a target=\"_blank\" href=\"mailto:mtaalab@inktankir.com\" style=\"\" rel=\"noopener\">Moustafa Taalab, our head of commercial<\/a>.<\/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 target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">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\"><strong> LISTEN TO OUR PODCAST- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MISSED OUR PREVIOUS FORUMS? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">The Enterprise<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">Podcast has you covered<\/a><\/strong><strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and the Enterprise Climate Forum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> WANT TO LISTEN? Head to: <\/strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/climate-is-the-biggest-business-and\/id1617987136?i=1000624977478\" style=\"\" rel=\"noopener\">Apple Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/42Ds85Mp5AqBh7ZR5BDbvw?si=kS_kQimDQSGBtVqSyr1P7Q&nd=1\" style=\"\" rel=\"noopener\">Spotify<\/a> | <a target=\"_blank\" href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/YzU0MzcwMjQtNDVhMi00MDNmLWI5ZDYtYjA2MzAxMGM2ZTQ4?sa=X&ved=0CAUQkfYCahcKEwiwoNjonumAAxUAAAAAHQAAAAAQCg\" style=\"\" rel=\"noopener\">Google Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/play.anghami.com\/episode\/1122203900\" style=\"\" rel=\"noopener\">Anghami<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IN THIS WEEK\u2019S EPISODE- <\/strong> In our second panel from the Enterprise Climate Forum, We dive deep into what the business leaders in the climate industry in Egypt and the region have to say about how the private sector is adopting greentech, where they see the opportunities and what they\u2019d like policymakers to do to encourage further participation. We were joined by <strong> Amr Allam, <\/strong>co-CEO of Hassan Allam Holding, <strong> Mohamed Ismail Mansour, <\/strong>CEO and co-founder of Infinity, and <strong> Sherif El Kholy, <\/strong> longtime partner and head of MENA private equity at Actis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\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\"><strong> \u2600\ufe0f <\/strong><strong> TOMORROW\u2019S WEATHER- <\/strong>The mercury is creeping up to peak at 40\u00b0C during the day and dropping to 24\u00b0C in the evening, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people, and welcome to the second day of what seems to be a busy week with more privatization news as we push towards the end of August. THE BIG STORY TODAY Phillip Morris subsidiary United Tobacco is reportedly in talks with the government to acquire a minority stake in state-owned Eastern Tobacco, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603823,"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":[728,633,67,1971,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-eastern-tobacco","tag-enterprisepm","tag-privatization","tag-united-tobacco","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"68075042-7a2c-40e8-8b59-c9a4ac635d6f","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2021\/7\/1121.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[603820],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.4267a0d5-1f0f-47ca-b707-b641c7a9493c.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: United Tobacco eyeing a minority stake in Eastern Tobacco? - 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\/08\/21\/this-evening-united-tobacco-eyeing-a-minority-stake-in-eastern-tobacco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: United Tobacco eyeing a minority stake in Eastern Tobacco?\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people, and welcome to the second day of what seems to be a busy week with more privatization news as we push towards the end of August. 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Gad acknowledged\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":621846,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/19\/egypts-eastern-tobacco-stake-sale-is-in-the-offing-as-share-price-recovers\/","url_meta":{"origin":603822,"position":4},"title":"Egypt\u2019s Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers","author":"enterpriseam admin","date":"19 November 2018","format":false,"excerpt":"IPO WATCH- Eastern Tobacco stake sale is \u201cin the offing\u201d as share price recovers: The sale by the state of an additional 4.5% stake in the Eastern Tobacco Company on the EGX is \u201cin the offing,\u201d Public Enterprises Minister Hisham Tawfik said yesterday, according to Al Mal. 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