{"id":621149,"date":"2024-06-02T00:00:00","date_gmt":"2024-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/uaes-electra-bid-for-elsewedy-receives-the-regulatory-greenlight\/"},"modified":"2024-06-02T00:00:00","modified_gmt":"2024-06-02T00:00:00","slug":"uaes-electra-bid-for-elsewedy-receives-the-regulatory-greenlight","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/uaes-electra-bid-for-elsewedy-receives-the-regulatory-greenlight\/","title":{"rendered":"UAE\u2019s Electra bid for Elsewedy receives the regulatory greenlight"},"content":{"rendered":"

Emirati Electra\u2019s bid for Elsewedy Electric <\/strong>moves forward:<\/strong> The Financial Regulatory Authority (FRA) approved Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding\u2019s bid to acquire a 24.5% stake<\/a> in Elsewedy Electric, according to an FRA statement (pdf)<\/a> out Thursday.<\/p>\n

The pricing:<\/strong> Electra will pay USD 1.05 a pop \u2014 marking an 11.37% premium to Elsewedy Electric\u2019s share price of EGP 44.51 (USD 0.94) at the end of trading before the weekend. If Electra succeeds in getting the whole 24.5% of the company it\u2019s after, the transaction would be valued at USD 558.4 mn, by our math.<\/p>\n

What\u2019s next? <\/strong>Elsewedy Electric\u2019s board will meet on Wednesday to discuss the offer and appoint an independent financial advisor to gauge the fair value of the company\u2019s shares, two unnamed sources told Asharq Business<\/a>. According to the FRA, Elsewedy Electric will need to tap a financial advisor and clarify the board\u2019s decision within the next 15 days. The share sale will be conducted via the special operations market (OPR) within the next 20 days.<\/p>\n

Remember:<\/strong> Elsewedy Electric had a good 2023 with the company\u2019s net income jumping<\/a> 87% y-o-y to EGP 10.1 bn and revenues rising 65% y-o-y to EGP 152.2 bn.<\/p>\n

Advisors: <\/strong>EFG Hermes is Electra\u2019s sole financial advisor for the transaction, an informed source told Enterprise.<\/p>\n

Market reax: <\/strong>Elsewedy Electric\u2019s shares rose 0.47% to EGP 44.51 a share after the news broke on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Electra will pay around USD 560 mn for the stake<\/p>\n","protected":false},"author":1,"featured_media":621150,"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":[152,72,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-elsewedy-electric","tag-enterpriseam","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"ed962542-5edd-4937-aaad-f41e4aac62ae","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/36.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Electra bid for Elsewedy receives the regulatory greenlight","related_issue":[621144],"teaser":"Electra will pay around USD 560 mn for the stake","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.4e3e717c-bd4d-4889-b334-239c8106b33c.mp3"},"yoast_head":"\nUAE\u2019s Electra bid for Elsewedy receives the regulatory greenlight - 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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 "WHAT WE\u2019RE TRACKING TONIGHT"","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":632003,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/","url_meta":{"origin":621149,"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 "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\/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":621149,"position":2},"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 "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\/2024\/3\/1213.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":621149,"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 "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\/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":621149,"position":4},"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 "WHAT WE\u2019RE TRACKING TONIGHT"","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":673911,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/20\/electra-parent-company-sagas-hits-regulatory-wall-in-elsewedy-takeover-push\/","url_meta":{"origin":621149,"position":5},"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 "WHAT WE\u2019RE TRACKING TONIGHT"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621149","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=621149"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621149\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621150"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621149"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621149"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}