{"id":620143,"date":"2024-05-16T00:00:00","date_gmt":"2024-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/16\/mumtalakats-beyon-solutions-to-acquire-controlling-stake-in-link-development\/"},"modified":"2024-05-16T00:00:00","modified_gmt":"2024-05-16T00:00:00","slug":"mumtalakats-beyon-solutions-to-acquire-controlling-stake-in-link-development","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/16\/mumtalakats-beyon-solutions-to-acquire-controlling-stake-in-link-development\/","title":{"rendered":"Mumtalakat\u2019s Beyon Solutions to acquire controlling stake in Link Development"},"content":{"rendered":"

Beyon Solutions to acquire controlling stake in Link Development: <\/strong>Beyon Solutions<\/a> \u2014 one of the companies owned by Beyon Group, itself a portfolio company of the Bahraini sovereign wealth fund Mumtalakat \u2014 has announced it will acquire a controlling stake in Egypt-based tech provider Link Development<\/a> for an undisclosed amount, Beyon Solutions said in a press release (pdf)<\/a>. The transaction \u201ccreates one of the largest hubs of digital transformation services in the region,\u201d the company said.<\/p>\n

Who's selling?<\/strong> VC firm A15, a major shareholder in Link Development, will be making a full exit from the firm following the transaction.<\/p>\n

What\u2019s next?<\/strong> The agreement, which was signed on 14 May, is still subject to regulatory approval in Egypt and Saudi Arabia.<\/p>\n

What they said:<\/strong> \u201cLink Development and Beyon Solutions hold strategic partnerships with key vendors such as Microsoft, AWS, and Outsystems, and the synergy created through the acquisition will augment the scope of the Beyon Solutions portfolio and enable the seamless delivery of cutting-edge digital solutions to our growing regional customer base,\u201d Beyon Solutions CEO Nicholas Toon said. <\/p>\n

EMAAR MISR\u2019S BUYING SPREE- <\/p>\n

Emaar Misr has heard back from Albro, Skytower: <\/strong>The shareholders of Albro North Coast for Developments and Skytower for Real Estate Development have approved Emaar Misr\u2019s non-binding preliminary offers to snag up stakes in each of the companies, Emaar said in an EGX disclosure (pdf)<\/a>. <\/p>\n

The details: <\/strong>Emaar Misr submitted the two offers earlier this week<\/a> after its board greenlit the move. Emaar Misr wants to acquire up to an additional 75% of Albro \u2014 which would give it full ownership of the company \u2014 from shareholders via a share swap. Emaar Misr is also looking to purchase a 25% stake in Skytower in an all-cash transaction and could potentially acquire the remaining 75% through a share swap.<\/p>\n

What\u2019s next:<\/strong> Emaar Misr\u2019s board will meet to \u201cexamine the necessary legal procedures that should be undertaken to proceed with the acquisition.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The agreement is still subject to regulatory approval in Egypt and Saudi Arabia<\/p>\n","protected":false},"author":1,"featured_media":620144,"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":[1066,473,1527,72,7128,7398,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-a15","tag-bahrain","tag-emaar-misr","tag-enterpriseam","tag-ma-watch","tag-mumtalakat","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"e441b562-52f2-4943-9f4e-0b82864516c6","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/1290.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Bahraini wealth fund-owned Beyon Solutions to acquire controlling stake in Egypt\u2019s Link Development","related_issue":[620136],"teaser":"The agreement is still subject to regulatory approval in Egypt and Saudi Arabia","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.7597315e-98bb-47f1-bc54-2bbf33dc4119.mp3"},"yoast_head":"\nMumtalakat\u2019s Beyon Solutions to acquire controlling stake in Link Development - 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The weekend is finally here and temperature has shot up, bidding us to stay in the shade and in the vicinity of our air conditioners. 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Wadi Degla had reportedly been fielding offers from local investors,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566805,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/14\/a15-sells-controlling-stake-in-connect-ads-to-us-outfit-aleph-holding\/","url_meta":{"origin":620143,"position":2},"title":"A15 sells controlling stake in Connect Ads to US outfit Aleph Holding","author":"enterpriseam admin","date":"14 July 2021","format":false,"excerpt":"Miami-based Aleph Holding acquired 86% of Connect Ads \u2014 a subsidiary of tech investor A15 \u2014 through a cash and share swap agreement of an undisclosed value, according to a press release (pdf). The acquisition marks Aleph Holding\u2019s first investment in the MENA region as it aims to expand its\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/428.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548632,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/16\/saudi-regulator-approves-stc-takeover-of-giza-systems\/","url_meta":{"origin":620143,"position":3},"title":"Saudi regulator approves STC takeover of Giza Systems","author":"enterpriseam admin","date":"16 August 2022","format":false,"excerpt":"Giza Systems is one step closer to being Saudi-owned: Saudi Arabia\u2019s competition watchdog has given the greenlight to Saudi Telecom\u2019s internet subsidiary to acquire a controlling stake in Giza Systems, it announced on social media on Sunday. Shareholders agreed to sell 89.5% of the company to Solutions by STC in\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574003,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/26\/egypt-engineering-firm-daoud-group-to-acquire-mnhds-nasr-utilities\/","url_meta":{"origin":620143,"position":4},"title":"Egypt: Engineering firm Daoud Group to acquire MNHD\u2019s Nasr Utilities","author":"enterpriseam admin","date":"26 August 2020","format":false,"excerpt":"M&A WATCH- Engineering firm Daoud Group to acquire MNHD\u2019s Nasr Utilities: Mohammed Ahmed Daoud for Engineering and Industrial Investments (Daoud Group) is reportedly the company that has made an EGP 30 mn offer to acquire Madinet Nasr for Housing and Development (MNHD) subsidiary Nasr Utilities and Installations (NUI), according to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":630839,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/eaef-looks-to-acquire-majority-stake-in-misr-hytech-seed-intl\/","url_meta":{"origin":620143,"position":5},"title":"EAEF looks to acquire majority stake in Misr Hytech Seed Int\u2019l","author":"enterpriseam admin","date":"4 March 2018","format":false,"excerpt":"M&A WATCH- EAEF looks to acquire majority stake in Misr Hytech Seed Int\u2019l: Our friends at the Egyptian-American Enterprise Fund (EAEF) are reportedly looking to acquire a controlling stake in seed-focused biotech firm Misr Hytech Seed International, sources close to the transaction told Al Borsa. EAEF, which is hoping to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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\/620143","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=620143"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620143\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/620136"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/620144"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=620143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=620143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=620143"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=620143"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=620143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}