{"id":620314,"date":"2024-05-19T00:00:00","date_gmt":"2024-05-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/"},"modified":"2024-05-19T00:00:00","modified_gmt":"2024-05-19T00:00:00","slug":"this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/","title":{"rendered":"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, folks.<\/strong> We are kicking off this week by sending plenty of gratitude to <a target=\"_blank\" href=\"https:\/\/www.carrier.com\/commercial\/en\/us\/about\/willis-carrier\/#:~:text=On%20July%2017%2C%201902%2C%20Willis,we%20live%2C%20work%20and%20play.\" style=\"\" rel=\"noopener\">Willis<\/a><a target=\"_blank\" href=\"https:\/\/www.carrier.com\/commercial\/en\/us\/about\/willis-carrier\/#:~:text=On%20July%2017%2C%201902%2C%20Willis,we%20live%2C%20work%20and%20play.\" style=\"\" rel=\"noopener\">Carrier<\/a> and his invention that is making this heatwave bearable. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Electra Investment Holding has put in a bid for a 24.5% stake in<\/strong><strong> Elsewedy Electric, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/1423.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> from the Financial Regulatory Authority (FRA) earlier today.The UAE-based company\u2019s voluntary purchase offer is seeking to buy up 15-24.5% of the company that is over 70% collectively owned by the Elsewedy family for USD 1.05 per share. The FRA is currently studying the offer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Elsewedy Electric <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2190f6e5-334d-4412-be1b-0602e638e1b5\" style=\"\" rel=\"noopener\">finished 2023 on a high note<\/a> after net income after minority interest jumped 87% y-o-y from 2022. The company's revenues also jumped 65% y-o-y to EGP 152.2 bn during the same period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Market reax: <\/strong>Elsewedy Electric shares jumped 20.0% to EGP 44.41 a share at the end of trading today.<\/p>\n<p class=\"tag-border-left\">THE BIG STORY ABROAD<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Israel is launching more attacks against Palestinians ahead of talks <\/strong><strong>with US<\/strong><strong> envoy<\/strong><strong>. <\/strong>Israeli airstrikes and ground attacks continued to devastate the Gaza Strip throughout the night as US national security adviser Jake Sullivan made his way to the occupying state. Sullivan is set to speak with Israel\u2019s Benjamin Netanyahu to practice discretion in their assault of Gaza and Rafah by targeting militants instead of indiscriminately killing Palestinians, whose death toll has risen to 35.3k. Another item on the agenda is resuming ceasefire talks after Israel\u2019s rejection to bring their hostages home in exchange for a pause in its attacks and access to humanitarian aid last week. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/israel-launches-strikes-across-gaza-us-envoy-visits-region-2024-05-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/world\/2024\/05\/19\/israel-hamas-war-news-gaza-palestine-rafah\/\" style=\"\" rel=\"noopener\">Washington Post<\/a>)<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>IDH wants out of the EGX: <\/strong>Integrated Diagnostics Holdings (IDH) <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b9bd295c-3bc4-43c9-94d3-e7227139980a\/idh-looks-to-delist-from-the-egyptian-stock-exchange\" style=\"\" rel=\"noopener\">could soon delist its shares<\/a> from the Egyptian Stock Exchange due to \u201climited trading activity\u201d and the \u201cabsence of any investment potential in maintaining the listing on the secondary market.\u201d<\/li>\n<li><strong>Ras El Hekma land to be transferred soon:<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/676d546d-b451-4907-bb38-61bf62d66803\/egyptian-government-readies-land-transfer,-following-arrival-of-final-tranche-of-ras-el-hekma-funds\" style=\"\" rel=\"noopener\">Egypt will finalize the transfer<\/a> of the land for the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">Ras El Hekma<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0b97fcf-95b0-4d39-86ae-0a4989221520\" style=\"\" rel=\"noopener\">project<\/a> to the newly established Ras El Hekma for Urban Development Project Company \u201cin the coming days.\u201d<\/li>\n<li><strong>Egypt could lose up to USD 20 bn due to war in Gaza: <\/strong>The UN Development Program estimates that the war in Gaza could cost Egypt\u2019s economy <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6b37866b-b749-4e90-bed0-9d95c9a6cfe9\" style=\"\" rel=\"noopener\">between USD 5.6 bn and USD 19.8 bn<\/a> throughout the current and upcoming fiscal years, with Suez Canal and Tourism revenues expected to take the biggest hit.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/03\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Inside Industry day \u2014<\/strong><strong>your weekly briefing of all things industrial in Egypt.<\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> The new industrial fund put together by the <a target=\"_blank\" href=\"https:\/\/ebda.com.eg\/en\" style=\"\" rel=\"noopener\">National Initiative for Developing Egyptian Industry (Ebda)<\/a> and <a target=\"_blank\" href=\"https:\/\/www.cf-holding.com\/Ccs.aspx\" style=\"\" rel=\"noopener\">Cairo Capital Securities<\/a> (CCS) could mean a big, positive change for SMEs bringing about access to finance and a contraction in Egypt\u2019s import bill. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>The mercury will be showing highs of 42\u00b0C and lows of 25\u00b0C in Cairo, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, folks. We are kicking off this week by sending plenty of gratitude to WillisCarrier and his invention that is making this heatwave bearable. THE BIG STORY TODAY Electra Investment Holding has put in a bid for a 24.5% stake in Elsewedy Electric, according to a statement (pdf) from the Financial Regulatory Authority (FRA) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":620315,"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":[7213],"tags":[152,633,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-elsewedy-electric","tag-enterprisepm","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"afbeff6e-9d2c-4aaa-80d7-d02592e4d2dd","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2022\/1\/100.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[620312],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.5472d7c1-eba6-416c-baf6-76e6730c216b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric - 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\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, folks. We are kicking off this week by sending plenty of gratitude to WillisCarrier and his invention that is making this heatwave bearable. THE BIG STORY TODAY Electra Investment Holding has put in a bid for a 24.5% stake in Elsewedy Electric, according to a statement (pdf) from the Financial Regulatory Authority (FRA) [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-19T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/100.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric\",\"datePublished\":\"2024-05-19T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\"},\"wordCount\":563,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/100.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Elsewedy Electric\",\"EnterprisePM\",\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TONIGHT\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/\",\"name\":\"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric - 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WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632003,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/","url_meta":{"origin":620314,"position":2},"title":"UAE\u2019s Electra snaps up 20% of Elsewedy Electric for USD 450 mn","author":"enterpriseam admin","date":"9 July 2024","format":false,"excerpt":"Elsewedy Electric\u2019s share price remained relatively stable following the transaction","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A 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With the weekend finally here, we\u2019re more than ready to put our feet up and get some well-deserved r\u2019n\u2019r. THE BIG STORY TODAY FRA gives UAE\u2019s Electra the green light for Elsewedy Electric acquisition: The Financial Regulatory Authority (FRA) approved Abu Dhabi-based\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673911,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/","url_meta":{"origin":620314,"position":4},"title":"Electra parent company Sagas hits regulatory wall in Elsewedy takeover push","author":"enterpriseam admin","date":"20 October 2025","format":false,"excerpt":"Good afternoon, folks. We\u2019re taking advantage of the slow news cycle today to dig into the AI bubble, what that has to do with gold prices, and what a burst may mean for the global economy.THE BIG STORY TODAY- ? 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