{"id":613181,"date":"2024-01-09T00:00:00","date_gmt":"2024-01-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/09\/this-evening-ezdehar-management-snaps-majority-stake-in-seta-textiles\/"},"modified":"2024-01-09T00:00:00","modified_gmt":"2024-01-09T00:00:00","slug":"this-evening-ezdehar-management-snaps-majority-stake-in-seta-textiles","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/09\/this-evening-ezdehar-management-snaps-majority-stake-in-seta-textiles\/","title":{"rendered":"THIS EVENING: Ezdehar Management snaps majority stake in SETA Textiles"},"content":{"rendered":"

Good afternoon ladies and gentlemen to this chilly Tuesday afternoon.<\/strong> It\u2019s another relatively calm start to the day so far here in Omm El Donia. <\/p>\n

** EnterprisePM is off tomorrow:<\/strong> We\u2019re going to be taking a publication break tomorrow to have some time for some team-building here at Enterprise HQ, but will be back in your inboxes on Thursday afternoon. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

Ezdehar acquires majority stake in SETA Textiles: <\/strong>Egypt-based private equity firm Ezdehar Management has purchased a majority stake in clothing company SETA Textiles, as part of Ezdehar\u2019s expansion plan for 2024, the companies announced in a joint press release (pdf)<\/a>. The transaction will see Ezdehar acquiring an 80% stake in SETA, Asharq Business<\/a> quotes founder Emad Barsoum as saying. <\/p>\n

The acquisition includes a primary capital investment in SETA Textiles<\/strong>, aiding the retail apparel company\u2019s plans to expand both in Egypt and overseas, the statement read. Ezdehar has plans to invest some USD 70 mn in 2024, Barsoum said.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

Leading the conversation in the international press is the appointment of France\u2019s <\/strong>youngest prime minister, Gabriel Attal. <\/strong>Currently the education minister, Attal will replace Elisabeth Borne. The Macron and Borne regime was on the rocks throughout 2023 after making a move to raise the retirement age in France and struggled to pass their immigration bill. With his disapproval rate at a high 68%, President Emmanuel Macron\u2019s move to appoint Attal, the most popular minister in cabinet, will be a strategic move ahead of the European Parliament elections in June. (Reuters<\/a> | CNBC<\/a>)<\/p>\n

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