{"id":630073,"date":"2018-04-11T04:22:23","date_gmt":"2018-04-11T04:22:23","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/"},"modified":"2018-04-11T04:22:23","modified_gmt":"2018-04-11T04:22:23","slug":"mnhd-explores-possible-merger-or-acquisition-with-sodic","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/","title":{"rendered":"MNHD explores possible merger or acquisition with SODIC"},"content":{"rendered":"

<\/a> M&A WATCH- MNHD wants to open talks on merger with, or acquisition of, SODIC:<\/strong> The board of directors of Madinet Nasr Housing & Development (MNHD) has given its chairman the go ahead to open talks with our friends at SODIC with a view to either acquiring the upmarket developer or merging the two companies, MNHD said in a regulatory filing yesterday (pdf)<\/a>.The proposed combination would bring together MNHD\u2019s large land bank of over 9 mn sqm and its strong sales track record (having achieved net sales of EGP 5.0 bn in 2017) and \u201cSODIC\u2019s premium brand name and track record as a prominent real estate development in Egypt\u201d with sales of EGP 5.5 bn in 2017, MNHD said. MNHD says the transaction would expand both firms\u2019 client base \u201cand expediting the monetization of the land bank through launches, sales, and execution.\u201d If the transaction goes through, it would to the create one of the largest players in the Egyptian real estate sector.<\/p>\n

MNHD has tapped EFG Hermes<\/strong> to advise on the transaction, while Zaki Hashem & Partners<\/strong> are serving as legal counsel, according to the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- MNHD wants to open talks on merger with, or acquisition of, SODIC: The board of directors of Madinet Nasr Housing & Development (MNHD) has given its chairman the go ahead to open talks with our friends at SODIC with a view to either acquiring the upmarket developer or merging the two companies, MNHD […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630073","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"37d57bc7-c7c1-4e32-a348-9d8a50d775c5","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630066],"teaser":"","voice_url":""},"yoast_head":"\nMNHD explores possible merger or acquisition with SODIC - 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\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MNHD explores possible merger or acquisition with SODIC\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- MNHD wants to open talks on merger with, or acquisition of, SODIC: The board of directors of Madinet Nasr Housing & Development (MNHD) has given its chairman the go ahead to open talks with our friends at SODIC with a view to either acquiring the upmarket developer or merging the two companies, MNHD […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-11T04:22:23+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"MNHD explores possible merger or acquisition with SODIC\",\"datePublished\":\"2018-04-11T04:22:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\"},\"wordCount\":191,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/11\/mnhd-explores-possible-merger-or-acquisition-with-sodic\/\",\"name\":\"MNHD explores possible merger or acquisition with SODIC - 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B-Investments, a lead shareholder\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\/2019\/1\/2559.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":623269,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/egypt-real-estate-giants-sodic-mnhd-release-operational-updates-as-they-push-ahead-with-merger\/","url_meta":{"origin":630073,"position":1},"title":"Egypt real estate giants SODIC, MNHD release operational updates as they push ahead with merger","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"** #3 M&A WATCH- Real estate giants SODIC and MNHD release operational updates. The two players in what we believe is Egypt\u2019s largest-ever domestic merger issued operational updates yesterday as the transaction chugs toward a potential end-of-year close: SODIC sees net contracted sales growing 14% y-o-y 2018: SODIC is anticipating\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":622866,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/15\/sodic-bidding-to-acquire-at-least-51-of-mnhd-in-all-share-transaction\/","url_meta":{"origin":630073,"position":2},"title":"SODIC bidding to acquire at least 51% of MNHD in all-share transaction","author":"enterpriseam admin","date":"15 October 2018","format":false,"excerpt":"** #1 M&A WATCH- SODIC bidding to acquire at least 51% of MNHD in all-share transaction: Upmarket real estate developer SODIC announced yesterday (pdf) it intends to make a mandatory tender offer to acquire at least 51% of Madinet Nasr Housing and Development (MNHD) through a direct share swap. 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It appears that the potential merger between our friends at SODIC and Madinet Nasr Housing and Development (MNHD) could take the form of a share swap, as it is \u201cthe path of least resistance,\u201d MNHD CEO Ahmed El Hitamy\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":624317,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/sodic-mnhd-merger-could-be-finalized-this-year-says-b-investments-alaa-sabaa\/","url_meta":{"origin":630073,"position":4},"title":"SODIC-MNHD merger could be finalized this year, says B Investments\u2019 Alaa Sabaa","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"** #5 M&A WATCH- SODIC-MNHD merger could be finalized this year, says B Investments\u2019 Alaa Sabaa: The potential merger between leading real estate players SODIC and Madinet Nasr Housing and Development (MNHD) could be finalized before the year is out, B Investments founding partner Alaa Sabaa tells Al Mal. 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