{"id":645642,"date":"2017-07-26T04:14:01","date_gmt":"2017-07-26T04:14:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/26\/efsa-exempts-nib-from-mto-of-40-06-stake-in-nilesat\/"},"modified":"2017-07-26T04:14:01","modified_gmt":"2017-07-26T04:14:01","slug":"efsa-exempts-nib-from-mto-of-40-06-stake-in-nilesat","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/26\/efsa-exempts-nib-from-mto-of-40-06-stake-in-nilesat\/","title":{"rendered":"EFSA exempts NIB from MTO of 40.06% stake in Nilesat"},"content":{"rendered":"<p><strong>Count this more as \u201cconsolidation of state assets\u201d than \u201cM&A\u201d- <\/strong>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. NIB already own 10% of the company; other shareholders include Egyptian Investment Projects at 8.8%, National Bank of Egypt at 7.5% and Banque Misr at 7.5%. EGX rules state that any tender for over 33% of shares outstanding demand that the buyer bid for 100% of shares, but exceptions can be made with shareholder approval.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Count this more as \u201cconsolidation of state assets\u201d than \u201cM&#038;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. NIB already own 10% of [&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-645642","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ddc4b721-38a3-42a7-b057-9cacab75a22d","order":"0","is_powered_by":true,"section_story_id":"854bf10d-3c0a-4883-ae11-b72afe6f8b1d","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645632],"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>EFSA exempts NIB from MTO of 40.06% stake in Nilesat - 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\/07\/26\/efsa-exempts-nib-from-mto-of-40-06-stake-in-nilesat\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFSA exempts NIB from MTO of 40.06% stake in Nilesat\" \/>\n<meta property=\"og:description\" content=\"Count this more as \u201cconsolidation of state assets\u201d than \u201cM&amp;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. 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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":645642,"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. 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