{"id":643062,"date":"2017-08-29T03:38:27","date_gmt":"2017-08-29T03:38:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/"},"modified":"2017-08-29T03:38:27","modified_gmt":"2017-08-29T03:38:27","slug":"nib-shelves-plans-to-acquire-nilesat-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/","title":{"rendered":"NIB shelves plans to acquire Nilesat stake"},"content":{"rendered":"<p><strong>M&A WATCH- <\/strong>Government-owned National Investment Bank (NIB) has decided to shelve plans to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), <a href=\"http:\/\/www.almalnews.com\/Story\/344273\/15\/%D8%AA%D8%AC%D9%85%D9%8A%D8%AF-%D8%AE%D8%B7%D8%A9-%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A7%D9%84%D9%82%D9%88%D9%85%D9%89-%D8%B9%D9%84%D9%89-%D8%AD%D8%B5%D8%A9-%D9%85%D8%A7%D8%B3%D8%A8%D9%8A%D8%B1%D9%88\">Al Mal reports<\/a>, citing unnamed sources. NIB\u2019s decision followed The National Media Authority <a href=\"https:\/\/enterprise.press\/stories\/2017\/07\/30\/national-media-authority-objects-to-nibs-purchase-of-nilesat\/\">(NMA)\u2019s objection<\/a> to the transaction last month. Source say NIB had acted unilaterally on the agreement and moved forward with obtaining the Egyptian Financial Supervisory Authority (EFSA)\u2019s approval for the transaction prior to notifying either Nilesat or NMA. EFSA had also exempted NIB from presenting a mandatory tender offer for the remaining shares of the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- Government-owned National Investment Bank (NIB) has decided to shelve plans to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), Al Mal reports, citing unnamed sources. NIB\u2019s decision followed The National Media Authority (NMA)\u2019s objection to the transaction last month. Source say NIB had acted unilaterally on the agreement and moved forward [&hellip;]<\/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-643062","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"cb851855-f3fc-4673-b8ab-6ae50ab87688","order":"0","is_powered_by":true,"section_story_id":"31e958e5-e1f7-4112-8c0c-09a9bb3cd501","story_type":"1","photo_url":"","photo_position":"above","related_issue":[643052],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NIB shelves plans to acquire Nilesat stake - 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\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NIB shelves plans to acquire Nilesat stake\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- Government-owned National Investment Bank (NIB) has decided to shelve plans to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), Al Mal reports, citing unnamed sources. NIB\u2019s decision followed The National Media Authority (NMA)\u2019s objection to the transaction last month. Source say NIB had acted unilaterally on the agreement and moved forward [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-29T03:38:27+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"NIB shelves plans to acquire Nilesat stake\",\"datePublished\":\"2017-08-29T03:38:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\"},\"wordCount\":102,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\",\"name\":\"NIB shelves plans to acquire Nilesat stake - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2017-08-29T03:38:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NIB shelves plans to acquire Nilesat stake\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NIB shelves plans to acquire Nilesat stake - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/","og_locale":"en_US","og_type":"article","og_title":"NIB shelves plans to acquire Nilesat stake","og_description":"M&A WATCH- Government-owned National Investment Bank (NIB) has decided to shelve plans to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), Al Mal reports, citing unnamed sources. NIB\u2019s decision followed The National Media Authority (NMA)\u2019s objection to the transaction last month. Source say NIB had acted unilaterally on the agreement and moved forward [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2017-08-29T03:38:27+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"NIB shelves plans to acquire Nilesat stake","datePublished":"2017-08-29T03:38:27+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/"},"wordCount":102,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/","url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/","name":"NIB shelves plans to acquire Nilesat stake - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2017-08-29T03:38:27+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/29\/nib-shelves-plans-to-acquire-nilesat-stake\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"NIB shelves plans to acquire Nilesat stake"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":645642,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/26\/efsa-exempts-nib-from-mto-of-40-06-stake-in-nilesat\/","url_meta":{"origin":643062,"position":0},"title":"EFSA exempts NIB from MTO of 40.06% stake in Nilesat","author":"enterpriseam admin","date":"26 July 2017","format":false,"excerpt":"Count this more as \u201cconsolidation of state assets\u201d than \u201cM&A\u201d- The Egyptian Financial Supervisory Authority exempted the government\u2019s National Investment Bank from presenting a mandatory tender offer after it submitted an offer to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), according to a filing with the EGX.\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":645787,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/national-media-authority-objects-to-nibs-purchase-of-nilesat\/","url_meta":{"origin":643062,"position":1},"title":"National Media Authority objects to NIB\u2019s purchase of Nilesat","author":"enterpriseam admin","date":"30 July 2017","format":false,"excerpt":"The National Media Authority objected to the government-owned National Investment Bank\u2019s (NIB) offer to acquire a 40.06% stake in the Egyptian Satellite Company (Nilesat), as NIB is indebted to the Egyptian Radio and Television Union, authority head Hussein Zein tells Al Masry Al Youm. NIB\u2019s debts have reached EGP 28\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637377,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/14\/nib-sues-ertu-over-egp-886-mn-loan\/","url_meta":{"origin":643062,"position":2},"title":"NIB sues ERTU over EGP 886 mn loan","author":"enterpriseam admin","date":"14 November 2017","format":false,"excerpt":"The National Investment Bank (NIB) filed a lawsuit against the Egyptian Radio and Television Union (ERTU) in a Cairo Economic Court for the latter to repay a EGP 886 mn loan and additional penalties of 16% of the loan, Al Borsa reports. Complications from this dispute may have played a\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":586201,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/08\/ezz-steel-looks-to-acquire-govt-owned-shares-of-ezz-dekheila-steel\/","url_meta":{"origin":643062,"position":3},"title":"Ezz Steel looks to acquire gov\u2019t-owned shares of Ezz Dekheila Steel","author":"enterpriseam admin","date":"8 May 2023","format":false,"excerpt":"The company would acquire 14% of Ezz Dekheila from the National Investment Bank and the National Bank of Egypt","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/366.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625456,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/06\/nib-considers-partial-sale-of-takes-in-five-state-owned-banks\/","url_meta":{"origin":643062,"position":4},"title":"NIB considers partial sale of takes in five state-owned banks","author":"enterpriseam admin","date":"6 August 2018","format":false,"excerpt":"NIB considers partial sale of stakes in five state-owned banks: Egypt\u2019s state-owned National Investment Bank (NIB) is considering partially exiting its stake in five banks either through an offering on the EGX or a direct sale to an investor, managing director Mahmoud Montasser tells Al Masdar. The bank is looking\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":611676,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/11\/national-investment-bank-wants-to-sell-down-stake-in-misr-cement-qena\/","url_meta":{"origin":643062,"position":5},"title":"National Investment Bank wants to sell down stake in Misr Cement Qena","author":"enterpriseam admin","date":"11 December 2023","format":false,"excerpt":"Misr Cement denied knowledge of the report","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/702.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\/643062","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=643062"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643062\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643052"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643062"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643062"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}