{"id":622110,"date":"2018-11-27T04:21:50","date_gmt":"2018-11-27T04:21:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa\/"},"modified":"2018-11-27T04:21:50","modified_gmt":"2018-11-27T04:21:50","slug":"regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa\/","title":{"rendered":"Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa"},"content":{"rendered":"

<\/a> M&A WATCH- Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa: <\/strong>The Financial Regulatory Authority (FRA) has approved Orascom Investment Holding\u2019s (OIH) offer to purchase a non-controlling stake in structured- and consumer-finance player Sarwa Capital, it said in a disclosure to the EGX (pdf)<\/a>. OIH, controlled by celebrity investor Naguib Sawiris, will make a tender for Sarwa shares from 28 November until 11 December, Beltone Financial said, according to Amwal Al Ghad.<\/p>\n

Background: <\/strong>OIH said last month<\/a> that it aims to acquire at least 25% of Sarwa, which OIH subsidiary Beltone Financial took public earlier this fall. Sarwa shares tanked in their EGX debut, and the FRA has since suspended Beltone\u2019s investment banking arm for six months and opened an investigation in what it says are investor complaints of irregularities in the listing. OIH is seeking at least a 25% stake in Sarwa, offering EGP 7.36 per share for c. 216 mn shares and saying it would pay EGP 6.62 per share if it received offers for 144-216 mn shares. OIH said the offer is in line with OIH\u2019s strategy to expand in the consumer finance sector.<\/p>\n

On a related note: The FRA postponed to 10 December<\/strong> a hearing originally scheduled for yesterday on Beltone\u2019s appeal of its six-month suspension, Al Mal reported<\/a>. Beltone has consistently denied any irregularities<\/a> in the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa: The Financial Regulatory Authority (FRA) has approved Orascom Investment Holding\u2019s (OIH) offer to purchase a non-controlling stake in structured- and consumer-finance player Sarwa Capital, it said in a disclosure to the EGX (pdf). OIH, controlled by celebrity investor Naguib Sawiris, will make a […]<\/p>\n","protected":false},"author":1,"featured_media":622111,"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":[8572],"tags":[933,72,76,618,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-contact-financial","tag-enterpriseam","tag-financial-regulatory-authority","tag-orascom-investment-holding","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ebd7d5c7-1b94-4173-81a2-985dd1a778c7","order":"0","is_powered_by":true,"section_story_id":"b7bda5ca-eadd-4115-bdeb-d549a369b28e","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/11\/NaguibSawiris-1600px.jpg","photo_position":"above","related_issue":[622100],"teaser":"","voice_url":""},"yoast_head":"\nRegulator green-lights Orascom\u2019s bid for large minority stake in Sarwa - 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\/2018\/11\/27\/regulator-green-lights-orascoms-bid-for-large-minority-stake-in-sarwa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Regulator green-lights Orascom\u2019s bid for large minority stake in Sarwa: The Financial Regulatory Authority (FRA) has approved Orascom Investment Holding\u2019s (OIH) offer to purchase a non-controlling stake in structured- and consumer-finance player Sarwa Capital, it said in a disclosure to the EGX (pdf). 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That brings Sarwa shares down just over 17% in\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":621396,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/07\/beltone-says-no-irregularities-in-sarwa-prospectus\/","url_meta":{"origin":622110,"position":2},"title":"Beltone says no irregularities in Sarwa prospectus","author":"enterpriseam admin","date":"7 November 2018","format":false,"excerpt":"Beltone denies allegations of irregularities in Sarwa IPO: Beltone Financial investment banking chief Sobhy El Sehrawy told Reuters yesterday that the IPO prospectus for structured and consumer finance player Sarwa Capital \u201ccontained no irregularities.\u201d His remarks were the firm\u2019s first public statement directly addressing still-hazy allegations of wrongdoing during the\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":621199,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/01\/orascom-investment-wants-at-least-25-of-sarwa-capital\/","url_meta":{"origin":622110,"position":3},"title":"Orascom Investment wants at least 25% of Sarwa Capital","author":"enterpriseam admin","date":"1 November 2018","format":false,"excerpt":"** #3 M&A WATCH- Sawiris\u2019 Orascom Investment wants at least 25% of Sarwa Capital: Orascom Investment Holding (OIH)is looking to acquire a non-controlling stake of c. 216 mn shares in consumer and structured finance player Sarwa Capital at EGP 7.36 a share, the company said in a bourse statement (pdf).\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":605071,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/20\/sarwa-shares-fall-nearly-10-after-naguib-sawiris-oih-acquires-a-stake\/","url_meta":{"origin":622110,"position":4},"title":"Sarwa shares fall nearly 10% after Naguib Sawiris\u2019 OIH acquires a stake","author":"enterpriseam admin","date":"20 December 2018","format":false,"excerpt":"Sarwa shares fall nearly 10% after OIH stake acquisition: Sarwa Capital\u2019s share price ended yesterday\u2019s trading session at EGP 6.52, down 9.96% from its opening price of EGP 7.23 a share. 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