{"id":610930,"date":"2023-11-29T00:00:00","date_gmt":"2023-11-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/29\/e-finance-could-acquire-two-digital-payments-firms-savolas-panda-bids-for-alfa-stores\/"},"modified":"2023-11-29T00:00:00","modified_gmt":"2023-11-29T00:00:00","slug":"e-finance-could-acquire-two-digital-payments-firms-savolas-panda-bids-for-alfa-stores","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/29\/e-finance-could-acquire-two-digital-payments-firms-savolas-panda-bids-for-alfa-stores\/","title":{"rendered":"e-Finance could acquire two digital payments firms + Savola\u2019s Panda bids for Alfa stores"},"content":{"rendered":"

Two M&A stories have our attention this morning: <\/strong>The first ise-Finance\u2019s bid to acquire two digital payments firms as it works to up its presence in the retail market, while a grocer owned by Saudi conglomerate Savola is reportedly interested in acquiring stores from struggling Egyptian retailer Alfa.<\/p>\n

E-FINANCE EYES ACQUISITIONS-<\/strong><\/p>\n

e-Finance could acquire two companies<\/strong>: <\/strong>State-owned fintech firm e-Finance is in talks to acquire two retail-focused digital payments companies, a source at the company told Enterprise yesterday, without disclosing their identities. The first one was approved by the board earlier this month and is expected to wrap up by the end of the year, they said. A second acquisition is currently under study and could be finalized during 1H 2024.<\/p>\n

ICYMI:<\/strong> In an EGX filing (pdf)<\/a> earlier this month, the board said it will disclose the identity of the company it plans to acquire once negotiations are completed. Our source said that the two parties are in the final stages of negotiation over the size and the value of the stake.<\/p>\n

The rationale:<\/strong>The acquisitions would facilitate e-Finance\u2019s entry into the retail payments market, our source said. Subsidiary e-Khales currently operates in the market as a bill payment aggregator but does not yet operate its own point-of-sale machines. The retail market is projected to grow in size to EGP 1.5 tn by 2027-2028.<\/p>\n

SAVOLA WANTS ALFA STORES-<\/strong><\/p>\n

Savola\u2019s Panda joins other suitors bidding for Alfa stores: <\/strong>Saudi grocer Panda<\/a> is among three supermarket chains vying to purchase six stores from struggling retailer Alfa Market, Al Mal<\/a> reports, citing sources it says have knowledge of the matter. The company, owned by Saudi food conglomerate Savola, is reported to have already reached an agreement with Alfa to take over its Maadi branch. The company is expected to sell its branches in Sheikh Zayed and Zamalek by the end of the year, according to Al Mal. <\/p>\n

Remember: Alfa is in trouble.<\/strong> Mounting debts have forced the company to enter talks with competitors to sell off assets<\/a>. Alfa owns nine branches in Greater Cairo, most of which are leased.<\/p>\n

Ezdehar drops out: <\/strong>The local private equity firm Ezdehar has given up talks with Alfa to purchase some of its stores after failing to agree on a selling price, the source said. Ezdehar Managing Director Emad Barsoum told us in September that the firm was eyeing four Alfa stores<\/a>, without disclosing their locations.<\/p>\n

Other investors are looking to purchase the brand: <\/strong>A consortium of retail investors is in advanced talks with Alfa to acquire its trademark rights, banking on its 5-mn strong customer base, Al Mal\u2019s sources said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two M&A stories have our attention this morning: The first ise-Finance\u2019s bid to acquire two digital payments firms as it works to up its presence in the retail market, while a grocer owned by Saudi conglomerate Savola is reportedly interested in acquiring stores from struggling Egyptian retailer Alfa. E-FINANCE EYES ACQUISITIONS- e-Finance could acquire two […]<\/p>\n","protected":false},"author":1,"featured_media":610931,"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":[7363],"tags":[11629,339,72,183,7128,338,219,1920],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-610930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-alfa-market","tag-e-finance","tag-enterpriseam","tag-fintech","tag-ma-watch","tag-retail","tag-saudi-arabia","tag-savola-group","wpautop","entry"],"acf":{"mongo_id":"87599cac-ec79-4b71-ad27-db561219083d","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/11\/1637.jpg","photo_position":"above","homepage_title":"","full_issue_title":"e-Finance could acquire two digital payments firms + Savola\u2019s Panda bids for Alfa stores","related_issue":[610921],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/11\/.28fe91ab-4fb7-4102-a9c8-363aad7e0c1b.mp3"},"yoast_head":"\ne-Finance could acquire two digital payments firms + Savola\u2019s Panda bids for Alfa stores - 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\/11\/29\/e-finance-could-acquire-two-digital-payments-firms-savolas-panda-bids-for-alfa-stores\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"e-Finance could acquire two digital payments firms + Savola\u2019s Panda bids for Alfa stores\" \/>\n<meta property=\"og:description\" content=\"Two M&A stories have our attention this morning: The first ise-Finance\u2019s bid to acquire two digital payments firms as it works to up its presence in the retail market, while a grocer owned by Saudi conglomerate Savola is reportedly interested in acquiring stores from struggling Egyptian retailer Alfa. 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month","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/1364.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547165,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/savola-closes-ole-bakery-acquisition\/","url_meta":{"origin":610930,"position":1},"title":"Savola closes Ole bakery acquisition","author":"enterpriseam admin","date":"12 June 2022","format":false,"excerpt":"The Egyptian Belgian Company has new Saudi owners: Saudi food conglomerate Savola has signed an agreement to acquire 100% of the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 for EGP 622.4 mn, its advisor, Al Ahly Pharos, said in a statement (pdf) Thursday.Savola isn\u2019t new\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A 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Brothers Fawaz Abdulaziz Alhokair, Salman Abdulaziz Alhokair, and Abdul Majeed Abdulaziz Alhokair have agreed to acquire the stake through a USD\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/257.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546610,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/23\/saudi-food-group-eyes-ole-bakery-ibnsina-breaks-into-hospitals-with-el-shorouk-acquisition\/","url_meta":{"origin":610930,"position":3},"title":"Saudi food group eyes Ole bakery + Ibnsina breaks into hospitals with El Shorouk acquisition","author":"enterpriseam admin","date":"23 May 2022","format":false,"excerpt":"Saudi food conglomerate Savola Group is close to acquiring the Egyptian Belgian Company \u2014 best known for its Ole-branded baked goods \u2014 in a transaction worth c. EGP 600 mn, a source familiar with the matter confirmed Enterprise. Hapi Journal had reported that the acquisition would see the company acquire\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/296.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564443,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/ma-and-an-ipo-in-the-works-for-speed-savola-looking-at-an-egypt-acquisition\/","url_meta":{"origin":610930,"position":4},"title":"M&A and an IPO in the works for Speed + Savola looking at an Egypt acquisition","author":"enterpriseam admin","date":"7 February 2021","format":false,"excerpt":"Speed Medical closing in on Al Safwa Hospital acquisition, says it will spin-off hospitals arm ahead of IPO: A consortium led by Speed Hospitals \u2014 a subsidiary of diagnostics and healthcare firm Speed Medical \u2014 is looking to acquire a 100% stake in Six of October\u2019s New Al Safwa Specialized\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/412.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559526,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/25\/sovereign-fund-eyes-controlling-stake-in-e-finance\/","url_meta":{"origin":610930,"position":5},"title":"Sovereign Fund eyes controlling stake in e-Finance","author":"enterpriseam admin","date":"25 January 2021","format":false,"excerpt":"SFE eyeing controlling stake in e-Finance ahead of its IPO? The Sovereign Fund of Egypt is reportedly in negotiations to acquire part of the National Investment Bank\u2019s (NIB) 69% stake in state-owned e-payments platform e-Finance, the local press reports, citing sources with knowledge of the matter. The exact size of\u2026","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\/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\/610930","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=610930"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610930\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610931"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610930"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610930"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}