{"id":612208,"date":"2023-12-19T00:00:00","date_gmt":"2023-12-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/egytrans-nosco-acquisition-pushed-back-to-early-2024\/"},"modified":"2023-12-19T00:00:00","modified_gmt":"2023-12-19T00:00:00","slug":"egytrans-nosco-acquisition-pushed-back-to-early-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/19\/egytrans-nosco-acquisition-pushed-back-to-early-2024\/","title":{"rendered":"Egytrans\u2019 NOSCO acquisition pushed back to early 2024"},"content":{"rendered":"

Egytrans takeover of NOSCO pushed back again: <\/strong>Transport and logistics company Egytrans will finalize its acquisition<\/a> of 99.9% of the National Transport and Overseas Services Company (NOSCO) in early 2024, Egytrans CEO Abir Leheta told CNBC Arabia<\/a>, citing delayed legal procedures. The acquisition was set to wrap up this quarter<\/a>, after it had been postponed from 1H 2023<\/a>. <\/p>\n

Background:<\/strong> The acquisition will be executed through a share swap, which will see Egytrans shareholders holding a 70.17% stake in the merged entity \u2014 dubbed Egytrans NOSCO \u2014 and NOSCO shareholders holding the remaining 29.83%. \u201cThe acquisition will help us expand our fleet and allow us to enter new markets,\u201d Leheta said. <\/p>\n

ALSO FROM EGYTRANS- <\/strong>The company will focus on wind projects during its initial push into the Saudi market in light of the kingdom\u2019s plan to increase the share of renewables in its energy mix to 50% by 2030, Leheta explained. Earlier this week, the company announced its plans to establish a SAR 10 mn (USD 2.7 mn) limited liability company<\/a> in Saudi Arabia in partnership with the kingdom\u2019s Link Investments<\/a> in 1Q 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

A delay in legal procedures pushed back the acquisition date<\/p>\n","protected":false},"author":1,"featured_media":612209,"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":[1142,72,7128,7004],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-egytrans","tag-enterpriseam","tag-ma-watch","tag-nosco","wpautop","entry"],"acf":{"mongo_id":"60c5388d-cef9-4052-90cb-3a40cbfffe61","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1227.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Transport and logistics Egyptian player Egytrans to complete acquisition of NOSCO in early 2024","related_issue":[612196],"teaser":"A delay in legal procedures pushed back the acquisition date","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.fd6ac302-ac05-41d3-8184-bbb24e804afb.mp3"},"yoast_head":"\nEgytrans\u2019 NOSCO acquisition pushed back to early 2024 - 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\/12\/19\/egytrans-nosco-acquisition-pushed-back-to-early-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egytrans\u2019 NOSCO acquisition pushed back to early 2024\" \/>\n<meta property=\"og:description\" content=\"A delay in legal procedures pushed back the acquisition date\" \/>\n<meta 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