{"id":620346,"date":"2024-05-20T00:00:00","date_gmt":"2024-05-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/20\/uaes-electra-eyes-up-to-24-5-of-elsewedy-electric\/"},"modified":"2024-05-20T00:00:00","modified_gmt":"2024-05-20T00:00:00","slug":"uaes-electra-eyes-up-to-24-5-of-elsewedy-electric","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/20\/uaes-electra-eyes-up-to-24-5-of-elsewedy-electric\/","title":{"rendered":"UAE\u2019s Electra eyes up to 24.5% of Elsewedy Electric"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Elsewedy Electric could welcome a new shareholder: <\/strong>UAE-based Electra Investment Holding has submitted a voluntary offer for up to 24.5% of EGX-listed Elsewedy Electric at USD 1.05 a pop, 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). The buyer wants to acquire at least 15% of Elsewedy Electric \u2014 which is over 76% collectively owned by the Elsewedy family \u2014 to execute the offer. 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>This would be a big ticket acquisition: <\/strong>If Electra succeeds in getting 24.5% of the company at USD 1.05 a pop \u2014 a premium of c. 11% to Elsewedy Electric\u2019s share price of EGP 44.41 at yesterday\u2019s close \u2014 the transaction would be valued at USD 558.1 mn (EGP 26.2 bn), according to our math.<\/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 jumped 87% y-o-y to EGP 10.1 bn. 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>Advisors: <\/strong>EFG Hermes is Electra\u2019s sole financial advisor for the transaction, an informed source told Enterprise.<\/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\u2019s shares jumped 20.0% to EGP 44.41 a share at the end of trading yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elsewedy Electric shares jumped 20.0% at the end of trading yesterday following the news<\/p>\n","protected":false},"author":1,"featured_media":620347,"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":[84,152,72,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-620346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-efg-hermes","tag-elsewedy-electric","tag-enterpriseam","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a5eebed8-d7b1-4f48-ba71-51575a76f4b0","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1213.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Electra eyes up to 24.5% of Elsewedy Electric","related_issue":[620341],"teaser":"Elsewedy Electric shares jumped 20.0% at the end of trading yesterday following the news","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.74bcf3ab-c0ef-4d27-b4cb-6ba461adf017.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>UAE\u2019s Electra eyes up to 24.5% of 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\/20\/uaes-electra-eyes-up-to-24-5-of-elsewedy-electric\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Electra eyes up to 24.5% of 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stake","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A 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":620346,"position":1},"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 WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621086,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/","url_meta":{"origin":620346,"position":2},"title":"THIS EVENING: FRA signs off on Electra\u2019s bid for Elsewedy","author":"enterpriseam admin","date":"30 May 2024","format":false,"excerpt":"Good afternoon ladies and gentlemen, and happy THURSDAY. 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":620314,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/19\/this-evening-uae-based-electra-investment-holding-bids-for-a-24-5-stake-in-elsewedy-electric\/","url_meta":{"origin":620346,"position":3},"title":"THIS EVENING: UAE-based Electra Investment Holding bids for a 24.5% stake in Elsewedy Electric","author":"enterpriseam admin","date":"19 May 2024","format":false,"excerpt":"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\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\/2022\/1\/100.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":673941,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/21\/electra-parent-company-sagasse-hits-regulatory-wall-in-elsewedy-takeover-push\/","url_meta":{"origin":620346,"position":4},"title":"Electra parent company Sagasse hits regulatory wall in Elsewedy takeover push","author":"enterpriseam admin","date":"21 October 2025","format":false,"excerpt":"The proposed structure violates market fairness and investor protection principles, according to the FRA","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626373,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/01\/wastewater-plants-schools-and-electricity-projects-to-soon-be-offered-up-for-the-private-sector-plus-sidpec-integrated-diagnostics-holdings-elsewedy-electric-infinity\/","url_meta":{"origin":620346,"position":5},"title":"Wastewater plants, schools, and electricity projects to soon be offered up for the private sector. PLUS: Sidpec, Integrated Diagnostics Holdings, Elsewedy Electric, Infinity","author":"enterpriseam admin","date":"1 July 2024","format":false,"excerpt":"Four wastewater plants will be offered to the private sector within four months","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/31.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620346","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=620346"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/620346\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/620341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/620347"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=620346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=620346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=620346"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=620346"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=620346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}