{"id":640688,"date":"2024-08-29T00:00:00","date_gmt":"2024-08-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/b-investments-to-sell-up-to-30-stake-in-gourmet\/"},"modified":"2024-08-29T00:00:00","modified_gmt":"2024-08-29T00:00:00","slug":"b-investments-to-sell-up-to-30-stake-in-gourmet","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/b-investments-to-sell-up-to-30-stake-in-gourmet\/","title":{"rendered":"B Investments to sell up to 30% stake in Gourmet"},"content":{"rendered":"

Good afternoon, folks, and happy Thursday.<\/strong> It\u2019s another calm afternoon to wrap up the work week. We hope you all have a lovely last weekend of August.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

B Investments to sell a minority stake in Gourmet this year: <\/strong>B<\/a>Investment<\/a> plans to sell a 20-30% stake in its subsidiary Gourmet before the end of the year, Asharq Business<\/a> reports citing three sources it says are close to the transaction.<\/p>\n

Who\u2019s interested?<\/strong> An initial decision has been made on one of the bids by an unnamed African company, one of the sources said, adding that the due diligence is currently underway and the company\u2019s value is expected to surpass EGP 1.5 bn.<\/p>\n

About Gourmet: <\/strong>The high-quality food emporium was founded in 2006 and currently operates 19 branches as well as two read-meal production factories. B investments acquired a 40% stake in the company towards the end of 2018 at an estimated cost of EGP 65 mn. <\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Nvidia is still in the international press spotlight as Wall Street continues to react to<\/strong> the fallout from the company\u2019s 2Q earnings. <\/strong>While the company\u2019s net income saw y-o-y growth of 168.2% \u2014 amounting to US 16.6 bn \u2014 AI investor cold feet saw Nvidia\u2019s share price driven down in after-hours trading. (Bloomberg<\/a> | CNBC<\/a>)<\/p>\n

Also sharing the spotlight is US presidential candidate Kamala Harris,<\/strong> who now leads the vote against Republican candidate Donald Trump by 13 points. The Reuters poll shows a 3% growth in the VP\u2019s popularity since late July, just one month ago. Harris\u2019s traction can be attributed to the interest of more women voters and more Hispanic voters, of which Harris leads by 36%-49% against Trump. The VP will be taking part in her first unscripted interview today in a bid to widen the gap across all fronts ahead of the November election. (Reuters | CNN<\/a>)<\/p>\n

<\/a> <\/p>\n

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