{"id":621086,"date":"2024-05-30T00:00:00","date_gmt":"2024-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/"},"modified":"2024-05-30T00:00:00","modified_gmt":"2024-05-30T00:00:00","slug":"this-evening-fra-signs-off-on-electras-bid-for-elsewedy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/","title":{"rendered":"THIS EVENING: FRA signs off on Electra\u2019s bid for Elsewedy"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon ladies and gentlemen, and happy THURSDAY.<\/strong> With the weekend finally here, we\u2019re more than ready to put our feet up and get some well-deserved r\u2019n\u2019r. <\/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>FRA gives UAE\u2019s Electra the green light for Elsewedy Electric acquisition:<\/strong> The Financial Regulatory Authority (FRA) approved Abu Dhabi-based electrical equipment manufacturer <a target=\"_blank\" href=\"https:\/\/electra.ae\/\" style=\"\" rel=\"noopener\">Electra Investment Holding<\/a> \u2019s bid to acquire a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a5eebed8-d7b1-4f48-ba71-51575a76f4b0\/uae%25e2%2580%2599s-electra-eyes-up-to-24.5%2525-of-elsewedy-electric\" style=\"\" rel=\"noopener\">24.5% stake<\/a> in Elsewedy Electric, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/5\/2574.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pricing:<\/strong> Electra will pay USD 1.05 (EGP 49.63 at today\u2019s exchange rate) a pop \u2014 marking a premium to Elsewedy Electric\u2019s Wednesday share price of EGP 44.3 (USD 0.94). The pricing means Electra will pay a total of USD 560 mn for the stake.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s next? <\/strong>Elsewedy Electric will need to tap a financial advisor and clarify the board\u2019s decision within the next 15 days, according to the statement. The share sale will be conducted via the special operations market (OPR) within the next 20 days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>South Africa\u2019s current government is on the brink of losing majority control:<\/strong> A tumultuous political transition shows the governing African National Congress (ANC) polling at just 41.77%, losing votes to the Democratic Alliance (DA) and the Marxist Economic Freedom Fighters (EFF). Projections from the results of 8.5% of polling stations show the DA poll at 26.52%, and the EFF at 7.2%. The loss of majority may encourage the ANC to strike an alliance with other parties, muddying the future political direction of the country. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/africa\/south-african-election-results-trickle-after-wide-open-vote-2024-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/05\/30\/south-africa-election-anc-set-to-lose-majority-in-pivotal-vote.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-05-30\/south-africa-s-anc-projected-to-lose-its-majority-model-shows?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/44c84613-0614-4c87-80e2-d6d48484c202\" style=\"\" rel=\"noopener\">Financial Times<\/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>Gov\u2019t raises the price of subsidized bread starting Saturday: <\/strong>The government will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e811dd85-332f-42a1-98ce-3d1b24f98627\/egypt-raises-the-price-of-subsidized-bread\" style=\"\" rel=\"noopener\">hike the price of subsidized bread<\/a> to EGP 0.20 from its current price of EGP 0.05 at the beginning of June.<\/li>\n<li><strong>Electricity bills will rise this summer: <\/strong>The government will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/accde3e4-3b87-4093-b9b3-cbbc33b69f4b\/the-egyptian-government-is-set-to-hike-electricity-prices-in-july\" style=\"\" rel=\"noopener\">hike electricity prices<\/a> in July with the beginning of the new fiscal year.<\/li>\n<li><strong>El Sisi, Xi talk Gaza:<\/strong> President Abdel Fattah El Sisi <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de0df6da-0efd-4ce5-bdf3-ff9c3be27213\/el-sisi,-xi-jinping-sign-cooperation-agreements,-discuss-regional-issues\" style=\"\" rel=\"noopener\">discussed the ongoing situation in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/de0df6da-0efd-4ce5-bdf3-ff9c3be27213\/el-sisi,-xi-jinping-sign-cooperation-agreements,-discuss-regional-issues\" style=\"\" rel=\"noopener\">Rafah<\/a>, Egypt\u2019s water security, as well as efforts to strengthen ties between the two countries, with his Chinese counterpart Xi Jinping during his time in Beijing.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u2600\ufe0f <\/strong><strong>TOMORROW\u2019S<\/strong><strong> WEATHER- <\/strong>We\u2019re getting a balmy Friday, complete with sunny skies punctuated with a few clouds as the mercury rises to 34\u00b0C in Cairo before dipping to 23\u00b0C, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 electrical equipment manufacturer Electra Investment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":621087,"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-621086","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":"e82aba4d-a24a-44e4-a763-483a7b78cd19","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/189.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[621084],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.5ab5f450-ae24-409e-b84b-ebe3af0f964e.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: FRA signs off on Electra\u2019s bid for Elsewedy - 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\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: FRA signs off on Electra\u2019s bid for Elsewedy\" \/>\n<meta property=\"og:description\" content=\"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. 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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. 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EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?fit=%2C&ssl=1","datePublished":"2024-05-30T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"THIS EVENING: FRA signs off on Electra\u2019s bid for Elsewedy"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/189.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":621149,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/uaes-electra-bid-for-elsewedy-receives-the-regulatory-greenlight\/","url_meta":{"origin":621086,"position":0},"title":"UAE\u2019s Electra bid for Elsewedy receives the regulatory greenlight","author":"enterpriseam admin","date":"2 June 2024","format":false,"excerpt":"Electra will pay around USD 560 mn for the 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":673911,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/","url_meta":{"origin":621086,"position":1},"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- ? FRA blocks Sagas\u2019 bid to take full control of Elsewedy\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\/7\/663.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":621086,"position":2},"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":621086,"position":3},"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":620346,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/20\/uaes-electra-eyes-up-to-24-5-of-elsewedy-electric\/","url_meta":{"origin":621086,"position":4},"title":"UAE\u2019s Electra eyes up to 24.5% of Elsewedy Electric","author":"enterpriseam admin","date":"20 May 2024","format":false,"excerpt":"Elsewedy Electric shares jumped 20.0% at the end of trading yesterday following the news","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\/3\/1213.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":621086,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621086","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=621086"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621086\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/621084"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621087"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621086"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621086"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}