{"id":611147,"date":"2023-12-03T00:00:00","date_gmt":"2023-12-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/taqa-wants-some-of-wataniyas-stations-plus-blominvest-now-owns-more-of-rameda-more-investments-from-geidea\/"},"modified":"2023-12-03T00:00:00","modified_gmt":"2023-12-03T00:00:00","slug":"taqa-wants-some-of-wataniyas-stations-plus-blominvest-now-owns-more-of-rameda-more-investments-from-geidea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/03\/taqa-wants-some-of-wataniyas-stations-plus-blominvest-now-owns-more-of-rameda-more-investments-from-geidea\/","title":{"rendered":"Taqa wants some of Wataniya\u2019s stations. PLUS: Blominvest now owns more of Rameda, more investments from Geidea"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>M&A WATCH-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1-<\/strong><strong>Taqa Arabia eyes Wataniya stations:<\/strong> Qalaa Holdings\u2019 energy distribution arm Taqa Arabia is set to submit a binding offer to purchase an unspecified number of fuel stations from military-owned fuel retailer Wataniya after Taqa\u2019s board approved the decision on Wednesday, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The company intends to finance the purchase through a combination of internal funds and external financing from banks and other financial institutions. The value of the stations has not been disclosed \u201cdue to the existence of competing offers,\u201d the statement reads.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>FYI-<\/strong> The current owner of Wataniya \u2014 the military\u2019s National Service Projects Organization \u2014 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/08d5f7ed-6d80-4f83-a036-5d906b919741\" style=\"\" rel=\"noopener\">acquired a significant minority stake<\/a> in Taqa earlier this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The government expects to finalize agreements to sell at least 10% \u2014 and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c2b7a2e5-6a60-4d93-b790-a71770451eff\" style=\"\" rel=\"noopener\">potentially as much as 100%<\/a> \u2014 in Wataniya <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7bfd11c3-82ee-4e5c-9f6d-f7695ae1ef03\" style=\"\" rel=\"noopener\">before the end of the year<\/a> as part of the state\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8a0da43-f922-4a49-b3a9-839f397f8ce4\" style=\"\" rel=\"noopener\">privatization<\/a> program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong><strong>Blominvest Bank has increased its stake in Rameda Pharma to 5.1%, up <\/strong><strong>from 4.9%<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/2.pdf\" style=\"\" rel=\"noopener\">a disclosure (pdf)<\/a> to the EGX on Thursday. The Beirut-based investment bank purchased 3 mn shares worth EGP 5.01 mn, making it the fourth shareholder to independently own more than 5.0% of Rameda after Equinox (18.0%), Saudi Seventh Investment (11.0%), and Ekuity (10.0%). Our friends at EFG Hermes brokered the transaction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>INVESTMENT-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Geidea wants to invest more in Egypt:<\/strong> Saudi SME fintech company <a target=\"_blank\" href=\"https:\/\/geidea.net\/merchants\/en\/\" style=\"\" rel=\"noopener\">Geidea<\/a> wants to double its investment in the Egyptian market to USD 80 mn over the next 3 years, general manager of Geidea Egypt Ahmed Nader reportedly told <a target=\"_blank\" href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=02122023&id=74cb848b-1c0a-4057-ae26-8c3a63f4fbc1\" style=\"\" rel=\"noopener\">Al Shorouk<\/a>. Geidea\u2019s new investments will focus on e-payments, restaurant management, and launching its own education academy in 1Q 2024, which will help prepare the local workforce for the job market. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Taqa Arabia will submit a binding offer to acquire a number of Wataniya fuel stations<\/p>\n","protected":false},"author":1,"featured_media":611148,"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":[1],"tags":[111,11825,72,183,8456,145,7128,91,427,81,449,587,615,567],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-also-on-our-radar","tag-blominvest","tag-enterpriseam","tag-fintech","tag-geidea","tag-logistics","tag-ma-watch","tag-oil-and-gas","tag-pharma","tag-privatization-watch","tag-rameda-pharma","tag-state-privatization-program","tag-taqa-arabia","tag-wataniya-petroleum","wpautop","entry"],"acf":{"mongo_id":"99f8adf9-0310-4423-abc5-de11b5fa154f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/34.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Taqa wants some of Wataniya\u2019s stations. 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