{"id":632003,"date":"2024-07-09T00:00:00","date_gmt":"2024-07-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/"},"modified":"2024-07-09T00:00:00","modified_gmt":"2024-07-09T00:00:00","slug":"uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/","title":{"rendered":"UAE\u2019s Electra snaps up 20% of Elsewedy Electric for USD 450 mn"},"content":{"rendered":"

Electra to own 20% of Elsewedy Electric:<\/strong> Elsewedy Electric shareholders have put sell orders of a total of 427.7 mn shares \u2014 around 20% of the company \u2014 to Abu Dhabi-based electrical equipment manufacturer Electra Investment Holding in response to the latter\u2019s offer, whose validity ended yesterday, according to an EGX bulletin<\/a>. Electra paid USD 1.05 per share, putting the transaction\u2019s value at some USD 449.1 mn, according to our math.<\/p>\n

The stake is in the mid-range of what Electra was shooting for:<\/strong> The voluntary offer<\/a> submitted by Electra in May targeted a 15-24.5% stake in Elsewedy Electric, which is over 76% collectively owned by the Elsewedy family. <\/p>\n

Remember<\/strong>:<\/strong> Electra has been purchasing<\/a> shares in Elsewedy Electric since early June after receiving the regulatory greenlight<\/a> to move forward with its offer. <\/p>\n

The fair value? <\/strong>Elsewedy Electric has a valuation of EGP 112.1 bn<\/a> \u2014 or EGP 52.38 a share \u2014 as per the fair value study conducted ahead of the transaction\u2019s completion. Electra\u2019s purchase price of USD 1.05 is the equivalent of EGP 50.33 at yesterday\u2019s USD \/ EGP exchange rate.<\/p>\n

Advisors: <\/strong>EFG Hermes was Electra\u2019s sole financial advisor, while BDO Keys Financial<\/a><\/a>Consulting<\/a> was Elsewedy Electric\u2019s financial advisor. MHR & Partners in association with White & Case were Electra\u2019s legal advisor on the transaction. <\/p>\n

Market reax:<\/strong> Elsewedy Electric\u2019s shares remained relatively stable yesterday, inching down 0.06% to close at EGP 47.54 following the announcement. <\/p>\n","protected":false},"excerpt":{"rendered":"

Elsewedy Electric\u2019s share price remained relatively stable following the transaction<\/p>\n","protected":false},"author":1,"featured_media":632004,"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-632003","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":"5b99033a-6043-45a7-aa07-f8a09c388613","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/663.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s Electra snaps up 20% of Egypt\u2019s Elsewedy Electric for USD 450 mn","related_issue":[631993],"teaser":"Elsewedy Electric\u2019s share price remained relatively stable following the transaction","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.15104bd1-2be0-47ac-8aab-546e568f9f17.mp3"},"yoast_head":"\nUAE\u2019s Electra snaps up 20% of Elsewedy Electric for USD 450 mn - 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\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Electra snaps up 20% of Elsewedy Electric for USD 450 mn\" \/>\n<meta property=\"og:description\" content=\"Elsewedy Electric\u2019s share price remained relatively stable following the transaction\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/09\/uaes-electra-snaps-up-20-of-elsewedy-electric-for-usd-450-mn\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-09T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/663.jpg?fit=%2C&ssl=1\" \/>\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\" 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stake","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\/6\/36.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":632003,"position":1},"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":632003,"position":2},"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":621086,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/this-evening-fra-signs-off-on-electras-bid-for-elsewedy\/","url_meta":{"origin":632003,"position":3},"title":"THIS EVENING: FRA signs off on Electra\u2019s bid for Elsewedy","author":"enterpriseam admin","date":"30 May 2024","format":false,"excerpt":"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\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":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":632003,"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":632003,"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\/632003","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=632003"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632003\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/631993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/632004"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=632003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=632003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=632003"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=632003"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=632003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}