{"id":631824,"date":"2018-03-28T03:47:43","date_gmt":"2018-03-28T03:47:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/"},"modified":"2018-03-28T03:47:43","modified_gmt":"2018-03-28T03:47:43","slug":"otmt-to-complete-inertia-acquisition-in-the-next-two-weeks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/","title":{"rendered":"OTMT to complete Inertia acquisition in the next two weeks"},"content":{"rendered":"

M&A WATCH- OTMT to complete acquisition of real estate developer Inertia in the next two weeks: <\/strong>Orascom Telecom Media and Technology Holdings is two weeks away from completing the acquisition of 51% of real estate outfit Inertia for Engineering and Trading\u2019s shares<\/a>, sources close to the matter said yesterday<\/a>. The two sides are adding some final touches and concluding negotiations over the value of the transaction. OTMT is expected to acquire the 51% stake through a capital increase and share issuance. Inertia Managing Directors Ahmed El Adawy and Hussein Rifai \u2014 who together hold a controlling 60% stake in the company \u2014 are expected to retain their seats on the company\u2019s board once the transaction is complete. Matouk Bassiouny<\/strong> is legal counsel for the sellside, while White & Case<\/strong> has been tapped as OTMT\u2019s legal counsel. OTMT had announced in December<\/a> that it signed an MoU with Inertia to acquire a controlling stake of at least 51%.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- OTMT to complete acquisition of real estate developer Inertia in the next two weeks: Orascom Telecom Media and Technology Holdings is two weeks away from completing the acquisition of 51% of real estate outfit Inertia for Engineering and Trading\u2019s shares, sources close to the matter said yesterday. The two sides are adding some […]<\/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-631824","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3ff510d2-bba1-42d9-b116-136d03a39aff","order":"0","is_powered_by":true,"section_story_id":"f8c5d2b1-00f6-4e93-8511-20b53a6b4639","story_type":"1","photo_url":"","photo_position":"above","related_issue":[631816],"teaser":"","voice_url":""},"yoast_head":"\nOTMT to complete Inertia acquisition in the next two weeks - 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\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OTMT to complete Inertia acquisition in the next two weeks\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- OTMT to complete acquisition of real estate developer Inertia in the next two weeks: Orascom Telecom Media and Technology Holdings is two weeks away from completing the acquisition of 51% of real estate outfit Inertia for Engineering and Trading\u2019s shares, sources close to the matter said yesterday. The two sides are adding some […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-28T03:47:43+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\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"OTMT to complete Inertia acquisition in the next two weeks\",\"datePublished\":\"2018-03-28T03:47:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\"},\"wordCount\":164,\"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\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/28\/otmt-to-complete-inertia-acquisition-in-the-next-two-weeks\/\",\"name\":\"OTMT to complete Inertia acquisition in the next two weeks - 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OTMT\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":636188,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/26\/beltone-sells-11-2-stake-to-a-group-of-investors-otmt-sells-7\/","url_meta":{"origin":631824,"position":1},"title":"Beltone sells 11.2% stake to a group of investors, OTMT sells 7%","author":"enterpriseam admin","date":"26 December 2017","format":false,"excerpt":"Majority shareholder of Beltone Financial sold 11.2% of its shares to a group of investors representing financial institutions and investors from the US, GCC, and Egypt at EGP 13.26 per share. 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Neither TE or OTMT have publically acknowledged a transaction is in the works. 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