{"id":604816,"date":"2018-12-13T04:50:48","date_gmt":"2018-12-13T04:50:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/13\/sawiris-oih-to-acquire-30-of-sarwa-in-5-business-days-after-egx-tender\/"},"modified":"2018-12-13T04:50:48","modified_gmt":"2018-12-13T04:50:48","slug":"sawiris-oih-to-acquire-30-of-sarwa-in-5-business-days-after-egx-tender","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/13\/sawiris-oih-to-acquire-30-of-sarwa-in-5-business-days-after-egx-tender\/","title":{"rendered":"Sawiris\u2019 OIH to acquire 30% of Sarwa in 5 business days after EGX tender"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>M&A WATCH- OIH set to acquire 30% of Sarwa:<\/b> Naguib Sawiris\u2019 Orascom Investment Holding (OIH) is set to acquire 30% of Sarwa Capital in a EGP 1.59 bn transaction that values the structured- and consumer-finance player at EGP 7.36 per share, according to reports in <a href=\"https:\/\/www.almalnews.com\/Story\/402652\/11\/-%D8%A3%D9%88%D8%B1%D8%A7%D8%B3%D9%83%D9%88%D9%85--%D8%AA%D8%B4%D8%AA%D8%B1%D9%8A-%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A930-%D9%85%D9%86--%D8%AB%D8%B1%D9%88%D8%A9-%D9%83%D8%A7%D8%A8%D9%8A%D8%AA%D8%A7%D9%84--%D8%A8%D9%82%D9%8A%D9%85%D8%A9-1-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87\">Al Mal<\/a> and <a href=\"https:\/\/alborsaanews.com\/2018\/12\/12\/1160905\">Al Borsa<\/a>. (While each of these outlets cite an EGX statement, we haven\u2019t been able to find a copy of said statement ourselves on the EGX website or through its mailing list.) Sarwa shares closed at EGP 7.24 yesterday. OIH attracted sell offers for as much as 36.5% of Sarwa (or about 98% of all floating shares) after a 10-day voluntary tender offer. Execution of the transaction will leave Sarwa with a freefloat of 7%; OIH has five business days in which to close the acquisition.<\/p>\n<p><b>Background: <\/b>OIH launched the tender on 27 November <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/27\/regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa\/\">after winning approval<\/a> from the Financial Regulatory Authority to seek a non-controlling stake in Sarwa. The <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/01\/orascom-investment-wants-30-stake-in-sarwa-capital\/\">conglomerate said<\/a> it could either acquire 30% (c. 216 mn shares), at a price of EGP 7.36 per share or between 20-30% (144-216 mn shares), at a lower price of EGP 6.62 a share. OIH CEO Tamer El Mahdi said at the time he was looking for at least 25%.<\/p>\n<p><b>A complicated nexus: <\/b>One day after OIH requested the FRA\u2019s approval to pursue the stake, the authority ordered a <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/04\/fra-suspends-beltones-investment-banking-arm-for-six-months-2\/\">six-month suspension<\/a> of the investment banking arm of Beltone Financial, which is owned by OIH and which was the sole global coordinator and bookrunner on Sarwa\u2019s IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- OIH set to acquire 30% of Sarwa: Naguib Sawiris\u2019 Orascom Investment Holding (OIH) is set to acquire 30% of Sarwa Capital in a EGP 1.59 bn transaction that values the structured- and consumer-finance player at EGP 7.36 per share, according to reports in Al Mal and Al Borsa. (While each of these outlets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":604817,"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":[933,72,7087,7128,2065,618,343,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-contact-financial","tag-enterpriseam","tag-finance","tag-ma-watch","tag-naguib-sawiris","tag-orascom-investment-holding","tag-regulation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b071e831-7f28-42ee-a454-e4beb834f618","order":"0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2018\/11\/NaguibSawiris-1600px.jpg","photo_position":"above","related_issue":[604806],"teaser":"","voice_url":""},"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>Sawiris\u2019 OIH to acquire 30% of Sarwa in 5 business days after EGX tender - 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\/2018\/12\/13\/sawiris-oih-to-acquire-30-of-sarwa-in-5-business-days-after-egx-tender\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sawiris\u2019 OIH to acquire 30% of Sarwa in 5 business days after EGX tender\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- OIH set to acquire 30% of Sarwa: Naguib Sawiris\u2019 Orascom Investment Holding (OIH) is set to acquire 30% of Sarwa Capital in a EGP 1.59 bn transaction that values the structured- and consumer-finance player at EGP 7.36 per share, according to reports in Al Mal and Al Borsa. 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That brings Sarwa shares down just over 17% in\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":622110,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa\/","url_meta":{"origin":604816,"position":1},"title":"Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa","author":"enterpriseam admin","date":"27 November 2018","format":false,"excerpt":"M&A WATCH- Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa: The Financial Regulatory Authority (FRA) has approved Orascom Investment Holding\u2019s (OIH) offer to purchase a non-controlling stake in structured- and consumer-finance player Sarwa Capital, it said in a disclosure to the EGX (pdf). OIH, controlled by celebrity investor\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\/2018\/11\/NaguibSawiris-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621199,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/orascom-investment-wants-at-least-25-of-sarwa-capital\/","url_meta":{"origin":604816,"position":2},"title":"Orascom Investment wants at least 25% of Sarwa Capital","author":"enterpriseam admin","date":"1 November 2018","format":false,"excerpt":"** #3 M&A WATCH- Sawiris\u2019 Orascom Investment wants at least 25% of Sarwa Capital: Orascom Investment Holding (OIH)is looking to acquire a non-controlling stake of c. 216 mn shares in consumer and structured finance player Sarwa Capital at EGP 7.36 a share, the company said in a bourse statement (pdf).\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":605071,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/20\/sarwa-shares-fall-nearly-10-after-naguib-sawiris-oih-acquires-a-stake\/","url_meta":{"origin":604816,"position":3},"title":"Sarwa shares fall nearly 10% after Naguib Sawiris\u2019 OIH acquires a stake","author":"enterpriseam admin","date":"20 December 2018","format":false,"excerpt":"Sarwa shares fall nearly 10% after OIH stake acquisition: Sarwa Capital\u2019s share price ended yesterday\u2019s trading session at EGP 6.52, down 9.96% from its opening price of EGP 7.23 a share. The decline came after Orascom Investment Holding bought a 30% stake (c. 216 mn shares at EGP 7.36 per\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":559885,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/beltone-sarwa-will-soon-have-a-new-corporate-parent\/","url_meta":{"origin":604816,"position":4},"title":"Beltone, Sarwa will soon have a new corporate parent","author":"enterpriseam admin","date":"8 February 2021","format":false,"excerpt":"Trading of Orascom Investment Holding (OIH) shares on the EGX will be suspended this coming Thursday, 11 February, to allow the company to spin out assets including investment bank Beltone and non-bank financial services player Sarwa Capital into a new entity, Orascom Financial Holding. OIH confirmed the move in a\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574873,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/orascom-financial-holding-strategy-to-arrive-by-years-end-sawiris\/","url_meta":{"origin":604816,"position":5},"title":"Orascom Financial Holding strategy to arrive by year\u2019s end -Sawiris","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"Orascom Financial still working on plans for subsidiaries + investments, including potential sell-down of stake in Sarwa: Newly formed Orascom Financial Holding (OFH) is planning to bring to its shareholders a strategy for its subsidiaries and holdings within a few months\u2019 time, but has not yet made any concrete decisions,\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\/266.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604816","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=604816"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604816\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/604806"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/604817"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=604816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=604816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=604816"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=604816"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=604816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}