{"id":606445,"date":"2023-09-17T00:00:00","date_gmt":"2023-09-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/govt-to-sell-stake-in-alamal-alsharif-plastics-asharq-plus-more-ebank-stake-sale-rumors\/"},"modified":"2023-09-17T00:00:00","modified_gmt":"2023-09-17T00:00:00","slug":"govt-to-sell-stake-in-alamal-alsharif-plastics-asharq-plus-more-ebank-stake-sale-rumors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/govt-to-sell-stake-in-alamal-alsharif-plastics-asharq-plus-more-ebank-stake-sale-rumors\/","title":{"rendered":"Gov\u2019t to sell stake in Alamal Alsharif Plastics -Asharq. PLUS: More Ebank stake sale rumors"},"content":{"rendered":"

Alamal Alsharif Plastics stake sale next year? <\/strong> The government is looking to sell a 30% stake in state-owned plastics manufacturer Alamal Alsharif Plastics<\/a> to a single strategic investor, A<\/a> sharq Busine<\/a> ss<\/a> reports, citing two unnamed government sources it says are in the know. <\/p>\n

Advisor TBA: <\/strong> The state is close to appointing a local investment bank to advise on the sale, which it expects to take place by 1Q 2024, according to the report. <\/p>\n

A transaction worth EGP 2.1 bn? <\/strong>The plastic pipe maker has a market value of some EGP 7 bn, one of the sources is quoted as saying, putting the value of a 30% stake at some EGP 2.1 bn. As with any M&A transaction, the final ticket price will depend on the results of independent valuations and negotiations with potential buyers. <\/p>\n

Who owns what? <\/strong>Some 47% of Alamal Alsharif is held by state-owned banks including the National Investment Bank (with a 29.5% stake), the National Bank of Egypt (11.3%), United Bank (5.3%) and Suez Canal Bank (0.5%), according to the company\u2019s w<\/a> ebs<\/a> ite<\/a>. The remaining 53% is held by unnamed individual shareholders.<\/p>\n

Remember: <\/strong> Alamal Alsharif is one of 35<\/a> state-owned assets earmarked for privatization<\/a> as part of the reform agenda agreed with the IMF under the USD 3 bn loan program. The government is now aiming to raise USD 5 bn<\/a> from asset sales between October 2023 and June 2024. <\/p>\n

\n

\n

More rumors of an Ebank sale: <\/strong>A<\/a> sharq Busines<\/a> s<\/a> is the latest to report that the government is planning to add the EGX-listed Export Development Bank (Ebank) to its privatization program, citing unnamed sources it says are in the know. State financial institutions currently hold an 84% stake in Ebank. <\/p>\n

Remember: Ebank denied any knowledge of a potential sale to private investors <\/strong>last<\/a><\/strong>month<\/a><\/strong> . <\/strong> A recent change<\/a> in the establishment laws governing Ebank and two other local lenders \u2014 bringing the three banks\u2019 governance fully in line with the 2020 Banking Act and removing potential obstacles to restructuring them \u2014 had added to speculation that Ebank could be up for a sale. An early study was underway to explore the idea of the bank bringing on board new investors via a capital increase, local media reported<\/a> back in April.<\/p>\n

Could 35 become 40? <\/strong>The government plans to expand the number of companies in its IPO program from 35 to 40 companies, Asharq adds.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plastics maker is reportedly worth some EGP 7 bn<\/p>\n","protected":false},"author":1,"featured_media":606446,"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":[7321],"tags":[7402,204,72,2371,7128,81,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-606445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-alamal-alsharif-plastics","tag-banking","tag-enterpriseam","tag-export-development-bank-of-egypt","tag-ma-watch","tag-privatization-watch","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"ca6bebdc-6bf4-4ffc-a8d6-bca802259668","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1017.jpg","photo_position":"above","homepage_title":"Gov\u2019t to sell stake in Alamal Alsharif Plastics -Asharq","full_issue_title":"Egypt could sell 30% of state-owned plastics firm -Asharq. 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Amid an overall slowdown in the news cycle, we have all the latest for you below.THE BIG STORY TODAY Alamal Alshaif to make its EGX debut next quarter: State-owned plastics manufacturer Alamal Alsharif Plastics is expected to\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1218.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":656938,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/12\/government-to-offer-up-stakes-in-ten-companies-to-strategic-investors-and-on-the-egx-in-2025\/","url_meta":{"origin":606445,"position":5},"title":"Government to offer up stakes in ten companies to strategic investors and on the EGX in 2025","author":"enterpriseam admin","date":"12 December 2024","format":false,"excerpt":"Madbouly named Chill Out and Silo Foods as the two other military-linked companies heading to the EGX","rel":"","context":"In "Privatization"","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1163.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\/606445","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=606445"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/606445\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/606436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/606446"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=606445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=606445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=606445"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=606445"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=606445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}